Section outline

  • Aims of the unit: 
    This unit deals only with statistical practice or how to apply statistics in real-life, like the application of statistics in the business from agriculture, industry, and in any services.

    Learning Outcomes:
    After successful completion of the unit, you will be expected to be able to:

    • Explain the concepts regarding this unit,
    • Demonstrate the mechanism and the technics that help you to manipulate the necessary formulae, and arrive to execute any possible calculations,
    • To do any application required and get the true solutions without difficulty

    Indicative content:

    • Determination of the coefficient of variation of different companies,
    • Calculation of mean and standard deviation of different domains,

    Reference:
    Read textbooks,

    • Published papers, and
    • Articles, materials on the statistical practices in different domains through the University of Rwanda Library website: https:/library.ur.ac.rw/ and materials uploaded below.

    Unit outline of this unit:
    Attached is the course outline of the coefficient of variation and it describes the sub-units covered by the unit and practice to be conducted in the unit.

    • Source 1: Lecture Note on unit V File PDF
      Students must
      Mark as done
      438.0 KB
    • E-tivity 5.1: Statistical application Forum

      A purchasing agent obtained samples of 60-watt bulbs from two companies. He had the samples tested in his own laboratory for the length of life with the following results:

      Length of life (in hour)
      Company A Company B

      1 700 and under 1 900
      1 900 ” ” 2 100
      2 100 ” ” 2 300
      2 300 ” ” 2 500
      2 500 ” ” 2 700

      10
      16
      20
      8
      6

      3
      40
      12
      3
      2

      (a) Which company’s bulbs do you think are better in terms of an average life?
      (b) If prices of both types are the same, which company’s bulbs would you buy and why?

      Read the note provides by your lecturer regarding coefficient of variation that ensures you to be able to determine the coefficient of variation among the different businesses and arrives to help you to do some appropriate calculation and make a good interpretation, which lead to the good conclusion. In e-tivity 5.1, two companies (industries) produce the bulbs and tubes with different powers. You will be required to read sources careful that help and guide you on how you should proceed to calculate easily the coefficient of variation on any business. Your attention must be focused on how to choose the appropriate company in terms of the average life of bulbs and tubes. In addition, according to the same prix in those companies, provide the true evidences that justify the reasons of choosing X or Y
      companies that you want to buy and why? So, your reason can be munched with your evidences and your good appropriate results.

       

    • E-tivity 5.2 : Coefficient of variation Forum

      You are given the data pertaining to kilowatt-hours of electricity consumed by 100 persons in NYANZA.     

      Consumption (K. watt-hours)                         N° of users

      0 but less than 10                         6
      10 ” ” ” 20                                   25
      20 ” ” ” 30                                   36
      30 ” ” ” 40                                   20
      40 ” ” ” 50                                   13

      Calculate: (i). The mean; (Answer: 25.9 K. watt-hours)
      (ii). The standard deviation; (Answer: 10.96)
      (iii). The range within which the middle 50% of the consumers fall ( Answer: 16.4)
      (iv). The coefficient of variation (42.32).

      Here, you (student) will be sure of the parameters used to determine the coefficient of variation. You will look to obtain the provide answers into e-tivity 5.2, by looking for the ways all answers were obtained. You will also pass through the materials related to the coefficient of the variable. Work in-group discussion which helps to involve more and deeply in statistical technics and to be familiarized with the parameters determining that coefficient of variation that help to get the provided answers through that group discussion.

      Not available unless: The activity E-tivity 5.1: Statistical application is marked complete
    • E-tivity 5.3: Assignment on the prices stability in the Markets
      Students must
      Mark as done

      The main points here are to know and understand how to know where the prices are stables or not stables even consistency.  You will focus more on the note given above in sub-unit five related to the coefficient of variation, which guides you on the choice of the good markets that you can prefer to purchase and get profits. See exercise below:

      Month        Mumbai             Kolkata            Month             Mumbai            Kolkata

                        January           105                  108                 June                     127                    125

                        February         120                  117                 July                     109                     125

                       March              115                  120                August                  110                   120

                       April               118                   130                September            104                    110

                       May                130                   100                October                112                    135

       

      Determine the Arithmetic Mean and Standard Deviation of the prices of shares.
      In which market are the share prices stable?

      In this e-tivity, data collection (surveys) will help you to review the precious units (I, II, III & IV), enhancing the skills and the gained knowledge for the previous matters. This will be considered as the key summarizing of unit-5 in statistical applications. The main points here are to know and understand how and where the prices are stables, variabilities, or consistency. You will focus more on the resources provided by your facilitator (Notes) and read other resources obtained through the library, classmates, and other students in the institution. This assignment will help you to contextualize and make a good comparison due to different places of business and arrive to understand how to choose the better one that provides you more benefits.

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