Start learning 50% faster. Sign in now
Box plots, also known as box-and-whisker plots, are particularly useful for identifying the presence of outliers. They provide a graphical summary of the minimum, first quartile, median, third quartile, and maximum of a dataset. The "whiskers" of the box plot extend to a range where most of the data falls, while data points that fall outside this range are considered outliers and are typically marked separately. This makes box plots particularly valuable for quickly assessing whether a dataset contains extreme values that could affect further analysis. Unlike histograms, which display the frequency distribution of data, box plots summarize data spread and central tendency, with an emphasis on identifying outliers. Why Other Options Are Incorrect: • A: Histograms show the frequency of data points, not box plots. • B: Box plots do not show correlations between variables; scatter plots or pair plots are more suited for that. • D: Box plots are not ideal for visualizing time series data. Line plots or time series plots are better choices. • E: Histograms are used for displaying the distribution of a variable in intervals, not box plots.
The Marginal Standing Facility (MSF) rate is linked to which of the following rates?
_______ has got approval for the complete acquisition of Ohm Global Mobility Private (OHM) from OHM International Mobility for a nominal consideration...
Which organization is primarily responsible for ensuring financial inclusion in India?
Which financial instrument provides the right, but not the obligation, to buy or sell an asset at a specified price?
Which act governs the regulation and supervision of NonBanking Financial Companies (NBFCs) in India?
Under the Liberalised Remittance Scheme, all resident individuals, including minors, are allowed to freely remit up to USD ______ per financial year.
USSR was disintegrated in the period ______?
Which of the following banks continue to be identified by Reserve Bank of India as Domestic-Systemically important Banks?
The Rupee's _______ against a basket of currencies has increased, indicating that the Rupee has strengthened against major trading partners.
Which of the following instruments is considered an alternative to cash in the Indian payment system?