Techniques to analyse data effectively Flashcards
1
Q
What are the key maths terms ?
A
Mean - added values - quantity
Median - middle number, after being organised
Mode - most common value
Standard deviation - how far the values in the data vary from the “norm” result
Measure of dispersion - How data set is “spread”
2
Q
How to calculate using raw data ?
A
Microsoft excel - graphs and charts
Sage - accounting software
Microsoft access - databases
SPSS - large databases, must be trained to use
3
Q
What is the typical use of statistics ?
A
Stock control - to identify trends in inventory and make key decisions
To calculate - quartiles, percentiles and correlation to co-efficient
