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Figure 7. Box-plot and a probability density function (pdf) of a Normal N(0,1σ 2) Population. Although box plots may seem more primitive than histograms or kernel density estimates, they do have a number of advantages. First, the box plot enables statisticians to do a quick graphical examination on one or more data sets.
Box plot : In descriptive statistics, a boxplot, also known as a box-and-whisker diagram or plot, is a convenient way of graphically depicting groups of numerical data through their five-number summaries (the smallest observation, lower quartile (Q1), median (Q2), upper quartile (Q3), and largest observation). A boxplot may also indicate which ...
Box and whisker plot: Box and Whisker Plot: x axis; y axis; A method for graphically depicting groups of numerical data through their quartiles. Box plots may also have lines extending from the boxes (whiskers) indicating variability outside the upper and lower quartiles. Outliers may be plotted as individual points.
Statistical graphics have been central to the development of science and date to the earliest attempts to analyse data. Many familiar forms, including bivariate plots, statistical maps, bar charts, and coordinate paper were used in the 18th century.
The IQR is used to build box plots, simple graphical representations of a probability distribution. The IQR is used in businesses as a marker for their income rates. For a symmetric distribution (where the median equals the midhinge, the average of the first and third quartiles), half the IQR equals the median absolute deviation (MAD).
They are used by traders to determine possible price movement based on past patterns, and who use the opening price, closing price, high and low of that time period. [citation needed] They are visually similar to box plots, though box plots show different information. [1]
Graphs that are appropriate for bivariate analysis depend on the type of variable. For two continuous variables, a scatterplot is a common graph. When one variable is categorical and the other continuous, a box plot is common and when both are categorical a mosaic plot is common. These graphs are part of descriptive statistics.
Autocorrelation plot; Bar chart; Biplot; Box plot; Bullet graph; Chernoff faces; Control chart; Fan chart; Forest plot; Funnel plot; Galbraith plot; Histogram; Mosaic ...