Kuppuswamy Scale for Measuring Socio-economic Status : Revised Monthly Income Figures for 2015

The "center" of a data set is also a way of describing location. The two most widely used measures of the "center" of the data are the mean (average) and the median. The words "mean" and "average" are often used interchangeably. The substitution of one word for the other is common practice. The technical term is "arithmetic mean" and "average" is technically a center location. However, in practice among non-statisticians,...

In statistics, several tools are used to interpret the data. Measures of central tendency represent the characteristics of the data, such as mean, median, and mode. Additionally, measures of variance like standard deviation and range are used to find the spread of data from the mean. Relative standing measures the distance between data locations. Commonly used measures of relative standings are percentile, z score, and quartiles.
Percentiles are a type of fractile that partition data into...

The measures of central tendency calculated from a data set may not reveal much about its intrinsic distribution. If a plot is made of the data set’s values, the mean and the median may not only differ, but also the plot may have more values on one side of the central tendencies. Such a data set is said to be skewed towards that side.
The longer the tail of the plot on one side, the more skewed it is. The skewness of a data set’s values suggests that the measures of central tendency...

In a dataset, the 5-number summary includes the minimum data value, the data value of the first quartile, the median data value or data value of the second quartile, the data value of the third quartile, and the maximum data value. These 5 data values can be visualized as a box and whisker plot.
In a box plot, the minimum and maximum data values represent the lower and upper whiskers in the graph, and the median is designated as the center of the box in the chart. The first quartile and third...

A cumulative frequency distribution is another type of frequency distribution. Instead of reporting how many data values fall in some classes, it reports how many data values are contained in either that class or any class to its left. Technically, it means the sum of frequencies of the class and all the classes below it in a frequency distribution. A cumulative frequency is calculated by adding the frequency of each class lower than the corresponding class interval or category. In general, a...

Quartiles are numbers that separate the data into quarters. Quartiles may or may not be part of the data. To find the quartiles, first, find the median or second quartile. The first quartile, Q1, is the middle value of the lower half of the data, and the third quartile, Q3, is the middle value, or median, of the upper half of the data. To get the idea, consider the same data set:
1; 1; 2; 2; 4; 6; 6.8; 7.2; 8; 8.3; 9; 10; 10; 11.5
The median or second quartile is seven. The lower half of the...