DAMA - 02 - Basic Statistical Tool For Financial Analysis

D E PA R T M E N T O F F I N A N C E
BUREAU OF LOCAL GOVERNMENT FINANCE
Basic Statistical Tool for

Financial Analyis
www.blgf.gov.ph
Learning Objectives
At the end of this session, the participants should be able to know

and understand:
• nature and concepts of different summary statistics for

data analysis; and
• Application of statistical tools in relation to work.
BLGF Data Management and Analysis (DAMA) Training

Summary Statistics
Numerical measures that are used to

describe certain characteristics of the
data.

Summary Statistics
Measures of Central
Tendency • Mean, Median, Mode
Measures of Location • Percentiles, Quartiles, Deciles
• Range, Standard Deviation, Variance, Coefficient
Measures of Dispersion
of Variation
Measures of Skewness • Skewed to the right or to the left

Rates, Ratios, Proportions,
Percentages

Measure of Central Tendency
• Any single value which is used to identify the

“center” of the data or the typical value.
• An index of the central location of a distribution.
 Mean : center of mass

 Median : middlemost point
 Mode : most frequently occurring value

The Mean
(Measures of Central Tendency)
• Sum of all values of the observations divided by the number

of observations.
N
Population Mean ()
X i
 i 1
N
Sample Mean n
X i
X  i 1
n

Characteristics of the Mean
• The most familiar measure of central tendency.

• Employs all available data in the computation.
• Strongly influenced by extreme values.
• May not be an actual observation in the data set.
• Can be applied in at least interval level.

The Mean
Example: Region V has 7 cities with the following total revenues. Compute for the
mean.
n
IRIGA CITY 479.60 X i
LEGAZPI CITY 894.02 X  i 1
n
LIGAO CITY 532.14
479.60 + 894.02 + 532.14 + 473.16 + 1,064.78 + 657.52 + 502.90
MASBATE CITY 473.16 =
7
NAGA CITY 1,064.78
4,604.13
SORSOGON CITY 657.52 =
7
TABACO CITY 502.90
= 𝟔𝟓𝟕. 𝟕𝟑

The Median
• A value of the variable in a data set that divides the set of

observed values in two equal parts, so that the observed
values in one half are less than or equal to the median value,
and the observed values on the other half are greater or
equal to the median values.

The Median
• The first step in calculating the median (Md) is to arrange the

observe values in increasing order.
 If the number of observation is odd, then the sample median is
the observed value exactly in the middle of the ordered list.
If the number of observation is even, the sample median is the
number halfway between the two middle observed values in the
ordered list.
X ( n / 2 )  X (( n / 2 )1)
Md 
2
Characteristics of the Median
• A positional center of the array.

• The median is affected by the position of each item in the
series but not by the value of each item.
• Not influenced by extreme values
• May not be an actual value in the data set
• Can be applied to data that are measured in at least the
ordinal level

The Median
Example: Region V has 7 cities with the following total revenues. What
is the median value?
1 MASBATE CITY 473.16

2 IRIGA CITY 479.60
3 TABACO CITY 502.90
4 LIGAO CITY 532.14
5 SORSOGON CITY 657.52
6 LEGAZPI CITY 894.02
7 NAGA CITY 1,064.78

The Median
Example: If Region V has 6 cities with the following total revenues,

what is the median value?
X ( n / 2 )  X (( n / 2 )1)
1 MASBATE CITY 473.16 Md 
2
2 IRIGA CITY 479.60
502.90 + 532.14
3 TABACO CITY
CITY 502.90 =
2
4 LIGAO CITY
CITY 532.14
5 SORSOGON CITY 657.52 = 𝟓𝟏𝟕. 𝟓𝟐
6 LEGAZPI CITY 894.02

The Median
Consider the below scenarios of total revenue collection of 7 cities. Compute
for the mean and median.
Column1 Scenario 1 Scenario 2 Scenario 3

City 1 250 250 250
City 2 200 100 1000 Being a positional
City 3 300 300 300 value, the median is
City 4 500 50 1500 not affected by
City 5 400 400 400
City 6 450 450 450 extreme values.
City 7 350 350 350
Mean 350 271 607
Median 350 300 400

The Mode
• Value of the variable which occurs with the greatest frequency in a

data set.
• Determined by counting the frequency of each value and note the

greatest frequency.
 If the greatest is 1 (ie. No value occurs more than once), then the variable
has no mode.
 If the greatest frequency is 2 or greater, then any value that occurs with that
greatest frequency is called a sample mode of the variable.

Characteristics of the Mode
• The value that occurs with the greatest frequency.

• The easiest to interpret.
• Not affected by extreme values.
• Does not always exist and may not be unique.
• Can be used for qualitative as well as quantitative data

The Mode
Example: Given the below LGFPMS categories of the LGUs, what is the mode
LGFPMS category?
LGU Name LGFPMS Category LGFPMS

LGFPMS Category
Category Count
Count
IRIGA CITY Type 4 Type

Type 11 11
LEGAZPI CITY Type 2 Type
Type 22 11
LIGAO CITY Type 4
MASBATE CITY Type 3 Type
Type 33 22
NAGA CITY Type 1
Type 44
Type 33
SORSOGON CITY Type 3
TABACO CITY Type 4

Things to Remember about the Mode, Median and
the Mean as Characterization Measures
No. Mode Median Mean
1 It is the most frequent value It is the value of the middle point It is the value in a given
in the distribution; it is the of the array , such that half the aggregate which would obtain
point of greatest density. item are above and half below it. if all the values were equal.
2 The value of the mode is The value of the media is fixed by The sum of deviations on
established by the its position in the array and either side of the mean are
predominant frequency, not doesn't reflect the individual equal; hence, the algebraic
by the value in the value. sum of the deviation is equal
distribution. zero.
3 It is the most probable The aggregate distance between It reflect the magnitude of
value, hence the most the median point and all the every value.
typical. value in the array is less than
from any other point.

Things to Remember about the Mode, Median
and the Mean as Characterization Measures
No. Mode Median Mean
4 A distribution may have 2 or Each array has one and only one An array has one and only one
more modes. On the other median. mean.
hand, there is no mode in a
rectangular distribution.
5 It is unstable that it is Value must be ordered, and may Values need not be ordered or
influenced by grouping be grouped, for computation. grouped for this calculation.
procedures.
6 Values must be ordered and It can be computed when ends It cannot be calculated from a
group for its computation. are open frequency table when ends
are open.

Reporting Summary Statistics
• The best way to write summary statistics is to be direct.
DESCRIPTIVE OTHER RELATED TERMS/MEANING

MEASURE
Minimum Lowest, smallest, least
Maximum Highest, largest, biggest
Mean Average, where observations tend to cluster
Median Middle, midpoint, half of the observation
Mode Majority, Most

Measures of Location
www.blgf.gov.ph
Measures of Location
• Values which provide information on the percentage of

observations in the dataset whose values are less than or
equal to it.
• Oftentimes used to find the position of a specific piece of
data in relation to the entire data set.
• Also referred to as quantiles.
• Quantiles commonly used are percentiles, deciles and
quartiles.

Percentiles
Percentiles divide the ordered observations into 100 equal parts hence there are
99 values or percentiles (P1,P2,…,P99).
It is positional value relative to other values in the dataset.
The kth percentile, Pk, is a value below which k % of the data lie.
The kth percentile divides the ordered observations into two parts: k% are less
than or equal to the kth percentile while (100-k)% are greater than or equal to it.

Percentiles
• P37 is read as the 37th percentile. It is the value for which at least 37% of the
observations are less than or equal to it; at the same time, at least 63% have
values greater than or equal to it.
Example:
If your exam result shows that your exam sore is at 37th percentile, this indicates
that 37% of the examinees have score less than or equal to your score. Which also
means that 63% of the examinees have higher score.
37% is just a positional value and does not represent your score.
Calculating Percentiles
Steps in calculating the kth percentile, Pk:
1. Arrange the data into an increasing order. The ith observation will be denoted
by the order statistic X(i).
𝑛𝑘
2. Calculate where “n” is the number of observations and “k” is the value of
100
the percentile you want to obtain.
𝑋 𝑛𝑘 + 𝑋 𝑛𝑘
𝑛𝑘 (100) (100+1)
3. If is an integer, then use the following formula: Pk =
100 2
𝑛𝑘
Otherwise, Pk = X(c), where c is the closest integer greater than .
100

Calculating Percentiles (Examples)
(1) There were 120 applicants who took an employment exam. Find the 90th
percentile or P90.
𝑛𝑘 120 90 Thus, the 90th percentile is the average of the 108th
= = 108
100 100 and 109th observations in the array.
• Solve the same question above, this time with 159 applicants.
𝑛𝑘 159 90 Thus, the 90th percentile is the 144th observation in
= = 143.1
100 100 the array.

Calculating Percentiles (Examples)
(2) Given the following scores of 20 local treasury personnel who took the BCLTE,
find the 70th percentile or P70.
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
35 35 40 45 50 50 55 55 55 60 60 60 65 65 65 65 70 70 75 80
𝑛𝑘 20 70 Thus, the 70th percentile is the average of

= = 14 the 14th and 15th observations in the array.
100 100
65 65 Interpretation: 70% of BCLTE examinees

𝑃70 = = 65 have score less than or equal to 65.
2

Deciles
• Divides the observed values into 10 equal parts, hence that

are nine (9) decile values: D1, D2, …,D9.
• The first decile D1 is the 10th percentile, the second decile D2

is the 20th percentile, and so forth.
• The kth decile, Dk, is a value below which 10 x k % of the

data lie.

Quartiles
• Divides the observed values into quarters or 4 equal parts.
• The variable has three quartiles, denoted by Q1, Q2 and Q3.
• The kth quartile, Qk, is a value below which (25 x k) % of the

data lie.
• The Median is equal to the 2nd quartile.

Calculating Quartiles
Steps in calculating the kth quartile, Qk:
1. Arrange the data in an increasing order. Let “n” denote the number of
observations in a data set.
𝑛+1
2. The first quartile Q1 is at position ,
4
𝑛+1
3. The second quartile Q2 (the median) is at position ,
2
3(𝑛+1)
4. The third quartile is at position
4

www.blgf.gov.ph
Numbers which give the extent of variability or dispersion of

observations.
Indicates the extent to which individual items in a series are scattered

about an average.
Used as a measure of reliability of the average value.
The more dispersed the observations are, the larger the value of a
variation will be.

Classifications of Measures of Dispersion
Measures of Absolute Measures of Relative

Dispersion Dispersion
• Used to describe the • Used to compare two or
variability of a data set. more data sets with
different means and
• Have the same unit of different units of
measurement as the measurement
observations
• Unitless

Measures of Absolute Dispersion
• Application of measures of absolute dispersion is usually limited to
describing variation in a single dataset.
• We can still use absolute dispersion measures for comparing two or
more datasets, but we have to make sure that all the datasets have
i. approximately the same means, and
ii. have the same unit of measurement.
• Two commonly used measures of absolute deviation are the range

and the standard deviation (which is the positive square root of the
variance).

Measures of Absolute Dispersion: RANGE
• The range is the distance between the maximum value and

the minimum value in a dataset.
Range = Maximum – Minimum
• The range cannot decrease, but can increase, when
additional observations are included in the dataset.
Example: What is the range of LGU operating income given the below data set:
Region 1 Region 2 Region 3 Region 4a Region 4b
16,951 25,648 20,619 23,474 18,631
Answer: Range = (25,648 – 16,951) = 8,697

RANGE: Advantages and Disadvantage
• The range is the simplest to understand and the easiest to
compute measure of dispersion. However, it does not tell
about the distribution of the middle observations.
8 8
No. of Provinces
6 6
No. of Provinces
6 6
4 5 5 4 5
4 4
2 3 2 3
2 1 2
0 0
100 200 300 400 500 600 100 200 300 400 500 600
Income in Milion Php Income in Milion Php
The observations above have the same range value, regardless of the data distribution.

RANGE: Advantages and Disadvantage
• The range is also affected by extreme values or outliers. The
observations below have the same middle distribution but the other
one has an outlying value, hence unequal ranges.
8 8
No. of Provinces
No. of Provinces
6 6
6 6
4 5 5 4 5 5
4 4
2 3 2 3
2 1 2
0 0
100 200 300 400 500 600 1,500 100 200 300 400 500 600
Income in Milion Php Income in Milion Php
The observations above have the same middle distribution but the other has an outlier, hence,
the unequal ranges.

Measures of Absolute Dispersion: VARIANCE
• The variance is the average squared deviation of each

observation from the mean.
• For a finite population of size N, the population variance is
N

 iX    2
2  i 1
• The variance will always be greater than zero.

Measures of Absolute Dispersion: STANDARD DEVIATION
• The population standard deviation is defined as the positive

square root of the variance,
N

 iX    2
 i 1
N
• The standard deviation is often referred to the measure of
“volatility.”

Variance and Standard Deviation
• For a sample of size n, the sample variance is defined as,
 X 
n
2
i X
s2  i 1
n 1
• and the sample standard deviation is defined as,
 X 
n
2
i X
s i 1
n 1

Variance and Standard Deviation
If there is a large amount of

variation in the data set, the
data values will be far from
the mean. In this case, the If, on the other hand, there is
standard deviation will be only a small amount of variation
large. in the data set, the data values
will be close to the mean.
Hence, the standard deviation
will be small.

Variance and Standard Deviation: Example 1
X 
2
 X 
Student Exam Score i  X n
2
i X
271
Student 1 65
36.00 s 
2 i 1
  54.20
n 1 (6  1)
Student 2 60
121.00
 X 
Student 3 70 n
2
1.00 X
i
Student 4 75 s i 1
 54.20  7.36
16.00 n 1
Student 5 80
81.00
Student 6 75
16.00 The students’ score deviates
x 71  X
n
i X 
2
= 271 from the mean by 7.36.
i 1

Variance and Standard Deviation: Example 2
Student Exam Score X i  X 

2
Student 1 50
Student 2 75
Student 3 70
Student 4 75
Student 5 80
Student 6 75
x 71

Characteristics of the Standard Deviation
Just like the mean, it is affected by the value

of every observation.
It may be strongly affected by a few extreme

values.
It is always positive.

Measures of Relative Dispersion
• Measures of relative dispersion are unit less and are

used to compare the scatter of one distribution with
the scatter of another distribution.
• Used in comparing dispersion of two or more groups.

Coefficient of Variation (CV)
Commonly used measure of relative dispersion.
The ratio of the standard deviation to the mean, expressed as a

percentage.
It is expressed as a percentage, removing the unit of

measurement, thus, allowing comparison of two or more data
sets.

Coefficient of Variation
• The formula of the coefficient of variation is given as,

CV  x 100%

• The sample counterpart is defined as,
s
CV  x 100%
X

Coefficient of Variation
A large coefficient of
variation means that the
dataset is highly variable
since the standard deviation On the other hand, a small
is large relative to the size of coefficient of variation
the mean. indicates less data
variability since its standard
deviation is small relative to
the size of the mean.

Coefficient of Variation: Example
• Using our previous example, we have the following statistic:
s
x = 71 CV  x 100%
X
s = 7.36
 7.36 
CV  71 x 100%  10.36
 

Measure of Skewness
www.blgf.gov.ph
Measure of Skewness
Measure of skewness shows the degree of

asymmetry, or departure from symmetry of a
distribution.
It indicates not only the amount of skewness but

also the direction (skewed to the left or skewed to
the right) of the distribution.

Symmetric Distribution
(Measure of Skewness)
• A distribution is symmetric if it can be

folded along vertical axis so that the
two sides coincide.
• If the distribution is symmetric, the

mean, the mode are located at the
same position along the horizontal axis.
• Bell-shaped

Symmetric Distribution
7
6
6 There are as many
No. of Provinces
5
5 5 observations above the
4 mean as there are
4 4
3 below.
3 3
2
2 2
1 Mean = Median = Mode
1 1
0
Income in Milion Php

Skewed Distribution
• If the two sides do not coincide,

distribution is said to be
asymmetric.
• A distribution that is asymmetric
with respect to a vertical axis is
said to be skewed.

Types of Skewness
Positively Skewed Negatively Skewed

or Skewed to the or Skewed to the
Right Distribution Left Distribution

Positive Skewness or Skewed to the Right
• Distribution tapers more to the right than to the left.

• There are more observations below the mean than above it.
• Concentration of values is at the left end of the distribution and
the upper tail stretches out longer than the lower tail.
• Mode < Median < Mean

Positive Skewness or Skewed to the Right
No. of
7 Income Total Income
Provinces
6 100 5 500
6
No. of Provinces
5 200 6 1,200
5 5
4 300 5 1,500
4 400 4 1,600
3
3 500 3 1,500
2
2 600 2 1,200
1
1 0 700 1 700
0 Total 26 8,200
100 200 300 400 500 600 700 800 Mean 315
Income in Milion Php
Median 300
Mode < Median < Mean Mode 200

Negative Skewness or Skewed to the left
• Distribution tapers more to the left than to the right.
• There are more observations above the mean than above it.
• Concentration of values is at the right end of the distribution and the
lower tail stretches out longer than the upper tail.
• Small values in the left tail will make the mean less than the median.
• Mean < Median < Mode

Negative Skewness or Skewed to the Left
7 No. of
Income Total Income
6 Provinces
6 100 M 1 100
No. of Provinces
5
5 200 M 2 400
4
4 300 M 3 900
3 400 M 4 1,600
3
2 500 M 5 2,500
2
1 600 M 6 3,600
1
0 Total 11 9,100
100 200 300 400 500 600 Mean 433
Income in Milion Php Median 500
Mode 600
Mean < Median < Mode
Reporting Summary Statistics
Descriptive Measure Other Related Terms/Meaning
Positively skewed (SK>0) Concentration of the observations is on the left-side of the
distribution tapering off to the right; few extremely high
observations
Negatively skewed (SK<0) Concentration of the observations is on the right-side of the
distribution tapering off to the left; few extremely low
observations
Example:
The annual family income in the Philippines is positively skewed. Most of the families are in the low-income
and middle-income bracket.

Rates, Ratios, Proportions,
Percentages and Percent
Change
www.blgf.gov.ph
RATES (emphasis on SPEED)
• To start, ratios, rates, proportions and percentages are all

forms of quotients where a number “a” is divided by a
number “b” or a/b.
• Rates are read as “a per b”.
• The value “a” can be interpreted as the amount or speed per

“b” units of measurement (e.g. a = salary per b = working hours
ie. Php800 per day can be translated as: Regular wage is at Php 100
per hour)

RATIOS (emphasis on COMPARISON)
• Ratios enable a comparison between two groups: “a” units in the first
group for every “b” unites in the second group.
• Proportions can be derived from ratios and vice-versa.
Example:
Male-Female ratio -> 4 : 2
o This means that for every four (4) males, there are two (2) females.
Proportion of Males -> 0.67
o This means that out of the 6 individuals, 4 are males

PROPORTIONS and PERCENTAGES
(emphasis on SIZE)
• Proportions are also called relative frequencies. They are

calculated by dividing the frequency by the total number of
elements. Percentages are just proportion expressed in
(obviously) percentages.
• Compare a part (specific category) to a whole (all categories).

PROPORTIONS and PERCENTAGES
(emphasis on SIZE)
Example: Compute for the proportion and percentage contribution of each revenue source to the
total local revenues.
Particulars Amount Proportion Percentage

Local Sources 3,368.15 1.00 100%
Tax Revenues 1,822.03 0.54 54% Interpretation:
Real Property Tax 936.06 0.28 28%
Tax revenues comprises 54%
Business Tax 777.62 0.23 23%
of the local revenues.
Other Taxes 108.36 0.03 3%
Non-Tax Revenues 1,546.12 0.46 46% 28% of the revenues from
Fees and Charges 312.46 0.09 9% local sources is contributed
Receipts from Economic by Real Property Tax.
1,070.19
Enterprises 0.32 32%
Other Receipts 163.47 - 0%

PERCENT CHANGE (Growth Rate)
𝑛𝑒𝑤 𝑎𝑚𝑜𝑢𝑛𝑡 − 𝑜𝑟𝑖𝑔𝑖𝑛𝑎𝑙 𝑎𝑚𝑜𝑢𝑛𝑡
Percent Change = 𝑥 100
𝑜𝑟𝑖𝑔𝑖𝑛𝑎𝑙 𝑎𝑚𝑜𝑢𝑛𝑡
• When the new amount is less than the original amount, the number
on top will be a negative number and the result will be a percent
decrease.
• When the new amount is greater than the original amount, the
percentage change is positive and is called a percent increase

PERCENT CHANGE (Growth Rate)
Example: Using the below data from Statement of Receipts and Expenditures report, compute for
the percent change in the revenue and expenditures of LGUs from FY 2012 to FY 2016.
2012 2013 2014 2015 2016

Operating Income 16,950.98 18,631.20 20,618.73 23,473.96 25,647.77
Operating
14,021.72 15,305.69 15,290.15 17,373.26 19,012.27
Expenditures
(25,647.77 − 16,950.98)
𝑃𝑒𝑟𝑐𝑒𝑛𝑡 𝐶ℎ𝑎𝑛𝑔𝑒 𝑜𝑓 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝐼𝑛𝑐𝑜𝑚𝑒 = 𝑥 100
16,950.98
𝑃𝑒𝑟𝑐𝑒𝑛𝑡 𝐶ℎ𝑎𝑛𝑔𝑒 𝑜𝑓 𝑂𝑝𝑒𝑟𝑎𝑡𝑖𝑛𝑔 𝐼𝑛𝑐𝑜𝑚𝑒 = 51%
Interpretation:
There was an increase of 51% in the total operating income of local government units from 2012 to 2016.

References:
• Statistical Report Writing, Philippine Statistical Research and Training
Institute
• Important Summary Statistics, Dr. Dennis S. Mapa, UP School of
Statistics
• Basics of Statistics, Jarkko Isotalo, University of Tampere, Finland
Thank you!
www.blgf.gov.ph

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D E PA R T M E N T O F F I N A N C E

BUREAU OF LOCAL GOVERNMENT FINANCE

Basic Statistical Tool for

At the end of this session, the participants should be able to know

• nature and concepts of different summary statistics for

BLGF Data Management and Analysis (DAMA) Training

Numerical measures that are used to

BLGF Data Management and Analysis (DAMA) Training

Measures of Skewness • Skewed to the right or to the left

BLGF Data Management and Analysis (DAMA) Training

• Any single value which is used to identify the

• An index of the central location of a distribution.

 Mean : center of mass

BLGF Data Management and Analysis (DAMA) Training

• Sum of all values of the observations divided by the number

BLGF Data Management and Analysis (DAMA) Training

• The most familiar measure of central tendency.

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training

• A value of the variable in a data set that divides the set of

BLGF Data Management and Analysis (DAMA) Training

• The first step in calculating the median (Md) is to arrange the

• A positional center of the array.

BLGF Data Management and Analysis (DAMA) Training

1 MASBATE CITY 473.16

BLGF Data Management and Analysis (DAMA) Training

Example: If Region V has 6 cities with the following total revenues,

6 LEGAZPI CITY 894.02

BLGF Data Management and Analysis (DAMA) Training

Column1 Scenario 1 Scenario 2 Scenario 3

BLGF Data Management and Analysis (DAMA) Training

• Value of the variable which occurs with the greatest frequency in a

• Determined by counting the frequency of each value and note the

BLGF Data Management and Analysis (DAMA) Training

• The value that occurs with the greatest frequency.

BLGF Data Management and Analysis (DAMA) Training

LGU Name LGFPMS Category LGFPMS

IRIGA CITY Type 4 Type

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training

• The best way to write summary statistics is to be direct.

DESCRIPTIVE OTHER RELATED TERMS/MEANING

BLGF Data Management and Analysis (DAMA) Training

• Values which provide information on the percentage of

BLGF Data Management and Analysis (DAMA) Training

It is positional value relative to other values in the dataset.

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training

𝑛𝑘 20 70 Thus, the 70th percentile is the average of

65 65 Interpretation: 70% of BCLTE examinees

BLGF Data Management and Analysis (DAMA) Training

• Divides the observed values into 10 equal parts, hence that

• The first decile D1 is the 10th percentile, the second decile D2

• The kth decile, Dk, is a value below which 10 x k % of the

BLGF Data Management and Analysis (DAMA) Training

• Divides the observed values into quarters or 4 equal parts.

• The variable has three quartiles, denoted by Q1, Q2 and Q3.

• The kth quartile, Qk, is a value below which (25 x k) % of the

• The Median is equal to the 2nd quartile.

BLGF Data Management and Analysis (DAMA) Training

BLGF Data Management and Analysis (DAMA) Training