Question

2 large retail companies (W and T) are compared on a Census variable, percent of people who own their home within 3 square miles of the store. The percent that own their home for W is:

84, 79, 73, 81, 74, 77, 64, 78, 78, 78, 61

Percent for T is:

58, 61, 57, 62, 61, 59, 56, 64, 61, 70.

- Estimate the difference in percent owning their home for the two companies as to central tendency using lambda=.05. In estimating the difference, use 1 parametric approach, 1 robust(trimming) or nonparametric approach, and the best bootstrapping approach(not jackknife). Make a case for which approach is best.

Answer 1

It is a graphical depiction of the data. It is a circular statistical chart which is divided into sectors. Each sector denotes the proportion of each type or category. Each sector also shows the relative sizes of the data. Pie charts are used to show proportions of a whole in which the total proportion is 100%.

Some of the examples of pie-chart are listed below:

1. The proportion of students in different grades.
2. Daily use of proportion of water for different works.
3. The population of countries.

Pie charts are best suited to represent categorical data as each sector or slice can represent each category. It is best used when the composition of a model of various categories is needed to be graphically represented. It can also be used to compare the categories within the pie chart.

Consider the following table showing the companies with top IPOs:



On the basis of above table, the Pie Chart is shown below:



Pie charts are most often used in business and mass media. But there are many disadvantages of using a pie chart. It is difficult to compare the data of different sections or to compare data between different pie charts.

The limitations of using Pie charts are listed below:

1. A pie chart can be used only for one set of data.
2. Negative and zero values cannot be represented in a pie chart.
3. It can only represent percentage or proportions of data.
4. Can represent the just limited number of categories as more number of categories cannot provide a better visual display of the pie chart.

It shows information, data, and statistics which is easy-to-comprehend and compares the categories of data. The bigger the slice or the sector, most popular or more demand of that category.