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Statistics: Box Whisker Plot

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  ***  Video Reference:  Illowsky, B., Dean, S., Birmajer, D., Blount, B., Boyd, S., Einsohn, M., Helmreich, J., Kenyon, L., Lee, S., & Taub, J. (2023).  Introductory statistics 2e . O penstax.  https://openstax.org/details/books/introductory-statistics-2e/ .  Licensed under a Creative Commons Attribution 4.0   *** Relevant Material: " Statistics are applied across many fields, including business, healthcare, government, and science,   to analyze data, identify trends, and make informed decisions . Applications range from performing market research and conducting clinical trials to modeling environmental changes and understanding population demographics.   Business and finance Market research : Analyze consumer behavior and predict market trends. Quality control : Monitor and improve production processes. Financial forecasting : Predict market performance and assess investment risks. Operations : Optimize business operations and enhance efficiency....
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Statistics: Quartiles (Part 2)

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  **  Relevant Material : " Quartiles in statistics divide data into four equal parts (quarters) to understand spread, central tendency, and distribution, with key applications in   business  (sales analysis, salary comparison, customer segmentation),  education  (grading, identifying struggling students),  healthcare  (patient data analysis), and  sports  (player performance) , often visualized with box plots to spot outliers and skewness. They help compare groups, identify high/low performers, and inform resource allocation by showing how data is distributed beyond just the average.   Key Applications Business & Finance : Analyzing income/salary gaps (Q1 vs. Q3), segmenting customers (top 25% spenders), comparing sales performance across regions, and detecting anomalies in financial data. Education : Assessing student performance by categorizing scores (e.g., bottom 25%, top 25%), helping teachers target interventions for lowe...
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