Essays on Outliers

Summary stats:

i) Mean µ = 1nx = 113 (6 + 26 + 28 + 30 + 32 +34 + 39 + 41 + 46 + 46 + 68 + 100 + 124 + 132) = 113 (706) = 54.3077 ii) Median = Middle (x) = 39 iii) Standard deviation σ = 1n i=1n(x₁–µ)² Standard deviation σ = 113 (18976.7695) = 38.2067 iv) Inter quartile Range = Q₃ - Q₁

6, 26, 28, 30, 32, 34, 39, 41, 46, 68, 100, 124, 132

Q₃ = 34n = 34 13 = 9.75th term = 12 (68 + 100) = 84 Q₁ = 14n = 14 13 =3.25th term = 12 (28 + 30) = 29 IQR= 84 – 29 = 55 v) Range = Max x – Min x = 132 - 6 = 126

Distribution of the data

The mean is more than the median indicating that the data is not normally distributed and is positively skewed. This implies ...

Chapter 1

The main idea of “The Matthew Effect” is that people frequently attribute success to individual characteristics that they consider to be rare, such as genius or talent. However, oftentimes the real explanation for that success has to do with advantages that are not accessible to the public. The analogy that he provides has to do with the factors that create the tallest tree in a particular forest. It is true that the tree came from a quality seed, but that seed (and sapling) did not have any other trees blocking its sunlight, and the seed was planted in fertile ...

The primary difference between a data warehouse and a database is the that a data warehouse is a repository of data that has been obtained from different sources over time, and that is stored in a unified schema and is typically used for decision support and analysis. On the other hand, a database is a representation of the presented status of particular data that has been stored and is mainly used to handle live quires and online transactions. The similarities between a database and data warehouse are that they are both means of storing large amounts of data. Characterization ...

Book Review – Outliers: The story of success by Malcolm Gladwell

It is popularly believed that hard work alone makes individuals successful in life. No wonder, many have bought into the belief that successful people are self-made. Gladwell challenges the accepted beliefs on success in his book, Outliers: The story of success. He discusses the societal and cultural factors that favor certain individuals to become successful through many case studies focused on certain well-known personalities representing various walks of life. According to Gladwell, outlier or a person who is a cut above the ordinary is in fact a beneficiary of time and opportunity. The major argument Gladwell makes in the ...

Q1. The Matthew effect in Robert Holmes project

The Matthew effect refers to the situation in which the richer get richer while the poor continue to be poorer (Gladwell, 15). The lives and prospects of the people of Robert Holmes coupled with the exposition of Gladwell in his book “Outliers” tend to justify the Matthew effect. They lend credence that it is extra ordinary opportunities that we are faced with in life that shape us rather than extra ordinary talents. It is therefore no surprise that the people of Robert Holmes, who are predominantly black, are stuck with poverty no matter their tacit attempts to escape from ...

Human development is a process of providing mechanisms through which people can flourish and attain self-actualization in their lives. The rationale of human development as a process goes beyond focusing on economic development as an indicator of people’s wellbeing. It therefore incorporates other dimensions which are crucial in establishing the extent to which people would describe quality life. Traditionally, most economists have used quantitative indicators such as GDP Per capita as a measure of people’s wellbeing in a particular economy. The reality is however, different because quantitative indicators such as these are limited to assessing economic success ...

Final Project

Final Project

Introduction

Statistical analysis is an integral part of the clinical trial and nursing. The purpose of this paper is to demonstrate the understanding the essence of the various methods of statistical processing of medical data, without going into details of mathematical calculations. We consider the most useful and popular types of analysis of the nursing, clinical and experimental medicine.

There are a number of indicators are included in the term of "descriptive statistics". They characterize the sample as a whole. Each researcher knows such concept as average (mean) value, which is calculated by dividing the sum of the ...

Value-at-Risk

Introduction Risk assessment is essential in portfolio management. A portfolio manager has the duty of maximising returns of the portfolio of the assets for each level of risk. Alternatively, a portfolio manager should minimise the risk of the portfolio at any level of return of the portfolio. Several models are used in assessing the risk involved in a portfolio of investments. Value-at-risk is widely applied in determining portfolio risk. We explore the concept of value-at-risk and its usage in portfolio management.

It is a model that measures how much the value of a portfolio could fall over a specified ...

In this paper, we will discuss and describe the application of statistics and probability theory to a real world problem. The purpose of this essay is to demonstrate various statistical skills and retrieve clear and useful information from the Springdale Shopping Survey data. We are working only with variables from 18 to 25. These variables reflect the importance of eight attributes of the customers’ choice in the chosen shopping area. The following variables participate in our research:

Easy to return or exchange goods

High quality of goods Low prices of goods Good variety of sizes or styles The sales staff is helpful or friendly Convenient ...

of students on the disability service program on Irvine University

A Statistical Approach

Reading is one of the first abilities developed and enforced during the first years of education across the world. Duggan (2009) states that one of the two most characteristic attributes a skillful reader has is his speed and ease while reading, the other being the understanding of the text. Conversely, the experience of reading can be enhanced or deteriorated by outside elements other than the reader himself. Irlen’s study (as cited by Morrison, 2011) suggests that visual perception is distorted when reading black words on a white background, ...

Part A: Language arts program

Samples: In this question, there are two samples: that of eleventh grade students who took Western Australian state school exams after the introduction of new language arts program, and that of eleventh grade students who took the Western Australian state school exams before the introduction of the new language arts program. In this regard, it is noticeable that the two samples are independent samples, because measurements are supposed to be made on each of the sample. The samples would have been drawn from two different populations: in this case, the first population is the one that undertook the new ...

Malcolm’s 10000 rule can explain many people’s success. His book the “Outliers” gives many real life examples that prove the Malcolm’s theory that if a person practises a sport or an activity for 10000 hours, he or she will become successful in the sphere. It is true that not all the people are born talented. However, hard work usually pays off. In his book Malcolm emphasizes “intelligence and ambition” (Gladwell 2015). It is possible to agree that no matter how talented people can be, if they do not develop their passion and love to the activity, ...

Income and Expenditure

Introduction Income and expenditure contributes largely to economic measures of an individual, country or continent. They determine the credit worthiness of a person or economic stability of a given country. Hence, my report will cover how income of an employee relates with his expenditure in the U.S. What actually am determined to prove is that, when a person gets higher income will his or her expenditure increase or decrease? For instance, I managed to find discrete data concerning income and expenditure from the ‘Economic data for the U.S.: http://www.bea.gov/’. The data had three variables namely, months starting from the ...