Synopsis
This book contains three units: Unit 1 Looking for patterns. This unit introduces some general ideas about statistical modelling and the four stages of the modelling diagram. Stemplots are introduced as an effective yet simple way of representing numerical data. Unit 2 Prices. This unit looks at how statistics can be used to answer questions about prices. It introduces measures of location, such as the mean and weighted mean, and measures of spread. It also looks at chained price indices such as the Retail Prices Index (RPI) and Consumer Prices Index (CPI), how they are calculated by the office of National Statistics and how they can be used to calculate inflation. Unit 3 Earnings. This unit looks at how statistics can answer questions connected with people's earnings, how to calculate earnings ratios at different points across distributions and the factors that they depend on. It shows you how to construct a boxplot and describes a new measure of spread - the standard deviation. PLEASE NOTE: Some of the activities in this book require the use of the statistical software package, Minitab and other module resources.
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