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    Project Petrol Price in Europe Bus 201 Statistics 1 Msc. Arjona Cela Epoka University Baf2 Worked By:Tano Llanaj

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    Tano Llanaj
    The document summarizes petrol (gasoline) prices across Europe. It finds that the average price is 1.45 Euros per liter but there is significant variation between countries. Wealthier countries tend to have higher prices while oil producing/exporting countries have lower prices. This is due to differences in fuel taxes and subsidies between nations, despite accessing the same global oil rates. As a result, the price at the pump varies across Europe.

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    Project Petrol Price in Europe Bus 201 Statistics 1 Msc. Arjona Cela Epoka University Baf2 Worked By:Tano Llanaj

    Uploaded by

    Tano Llanaj
    38 views7 pages
    The document summarizes petrol (gasoline) prices across Europe. It finds that the average price is 1.45 Euros per liter but there is significant variation between countries. Wealthier countries tend to have higher prices while oil producing/exporting countries have lower prices. This is due to differences in fuel taxes and subsidies between nations, despite accessing the same global oil rates. As a result, the price at the pump varies across Europe.

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    The document summarizes petrol (gasoline) prices across Europe. It finds that the average price is 1.45 Euros per liter but there is significant variation between countries. Wealthier countries tend to have higher prices while oil producing/exporting countries have lower prices. This is due to differences in fuel taxes and subsidies between nations, despite accessing the same global oil rates. As a result, the price at the pump varies across Europe.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    38 views7 pages

    Project Petrol Price in Europe Bus 201 Statistics 1 Msc. Arjona Cela Epoka University Baf2 Worked By:Tano Llanaj

    Uploaded by

    Tano Llanaj
    The document summarizes petrol (gasoline) prices across Europe. It finds that the average price is 1.45 Euros per liter but there is significant variation between countries. Wealthier countries tend to have higher prices while oil producing/exporting countries have lower prices. This is due to differences in fuel taxes and subsidies between nations, despite accessing the same global oil rates. As a result, the price at the pump varies across Europe.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    Project

    Petrol Price in Europe


    BUS 201 Statistics 1
    MSc. Arjona Cela
    Epoka University BAF2
    Worked by:Tano Llanaj
    Prices of petrol in Europe
    The European average price of petrol is 1.45 Euro per litre. However, there is a significant price
    disparity across nations. Richer nations tend to have higher prices, whereas poorer countries and
    those that produce and export oil tend to have lower prices. The pricing discrepancies across nations
    are due to differing fuel taxes and subsidies. All nations have access to the same worldwide
    petroleum rates, but they choose to apply various taxes. As a result, the price of petrol at the pump
    varies.

    Grouped Frequency Distribution


    The World Bank provided the data for petrol prices/liter for 45 countries in Europe. Frequency
    distribution helped me to organize the data for the petrol price/liter of 45 countries. First i found the
    minimum (L) and maximum(H) value that helped me to find the Range (R=H-L) and then I
    discovered the Class Width, which is the difference between any class's upper and lower
    boundaries ( W= R/ nr of classes).

    Class Boundaries Class Limits Frequencies Class Midpoints Cummulative Frequencies


    0.45-0.75 0.5-0.7 1 0.6 1
    0.75-1.05 0.8-1 5 0.9 6
    1.05-1.35 1.1-1.3 6 1.2 11
    1.35-1.65 1.4-1.6 18 1.5 29
    1.65-1.95 1.7-1.9 13 1.8 40
    1.95-2.25 2-2.2 1 2.1 41
    2.25-2.55 2.3-2.5 1 2.4 42
    Total=45

    Number of classes 7
    Number of datas 45
    Range 2
    Class width 0.2857(0.3)
    Maximum value 2.5
    Minimum value 0.5
    Histogram

    A histogram is a graphical representation that divides a set of data points into ranges defined by the
    user. The histogram, which resembles a bar graph in appearance, condenses a data series into an
    easily understandable visual by grouping many data points into logical ranges or bins. In the x-axis
    are represented the class boundaries, while in the y-axis are represented the frequencies of these
    class boundaries. In this sample the histogram is right-skewed, meaning the peak is on the left side
    while the data values tape off to the right. The highest frequency which represents the modal class is
    the class: 1.35-1.65

    Class Boundaries Frequencies


    0.45-0.75 1
    0.75-1.05 5
    1.05-1.35 6
    1.35-1.65 18
    1.65-1.95 13
    1.95-2.25 1
    2.25-2.55 1
    Frequency Polygon
    A frequency polygon is a visual representation of a distribution. The visualization tool is used to
    understand the shape of a distribution. The frequency polygon indicates the number of occurrences
    for each distinct class in the dataset. In addition, the graph may be used to show the cumulative
    frequency distribution. The frequency polygon is a curve that is drawn on the x-axis and the y-
    axis. The x-axis represents the values in the dataset, while the y-axis shows the number of
    occurrences of each distinct category.
    Frequencies Class Midpoints
    1 0.6
    5 0.9
    6 1.2
    18 1.5
    13 1.8
    1 2.1
    1 2.4
    Ogive
    A cumulative frequency polygon, often known as an ogive, is a form of frequency polygon that
    exhibits cumulative frequencies. In other words, the cumulative percent is added from left to right
    on the graph. Cumulative frequency is plotted on the y-axis, while class boundaries are plotted on
    the x-axis, in an ogive graph.
    Class Boundaries Cummulative Frequencies
    less than 0.45 0
    less than 0.75 1
    less than 1.05 6
    less than 1.35 11
    less than 1.65 29
    less than 1.95 40
    less than 2.25 41
    less than 2.55 42
    Bar Graph
    A bar chart is a way of summarizing a set of categorical data. The bar chart displays data using a
    number of bars, each representing a particular category. The height of each bar is proportional to a
    specific aggregation where in my case the Netherlands has highest price of petrol/liter and Russia
    has the lowest one.

    Bar Graph
    Iceland
    Netherlands 2.5
    Norway 2
    Finland 1.9
    Portugal 1.87
    Italy 1.86
    Greece 1.85
    Germany 1.84
    Sweden 1.83
    Denmark 1.8
    France 1.78
    Belgium 1.77
    Ireland 1.73
    Switzerland 1.72
    Great Britain 1.72
    Estonia 1.59
    Spain 1.56
    Latvia 1.54
    Luxembourg 1.53
    Croatia 1.52
    Slovakia 1.51
    Lithuania 1.5
    Czech Republic 1.49
    Serbia 1.47
    Austria 1.44
    Montenegro 1.42
    Andorra 1.39
    Cyprus 1.38
    Slovenia 1.36
    Hungary 1.36
    Malta 1.34
    Romania 1.33
    North Macedonia 1.32
    Bosnia and herzegovina 1.26
    Bulgaria 1.2
    Albania 1.19
    Poland 1.15
    Moldova 1.14
    Ukraine 1.05
    Armenia 0.94
    Turkey 0.93
    Georgia 0.93
    Azerbaijan 0.82
    Belarus 0.72
    Russia 0.5
    0 0.5 1 1.5 2 2.5

    Petrol price/liter in €
    Mean, Variance, Standard deviation
    Below are shown the shown the values of variance mean and standart deviation.
    variance 0.127353277
    average(mean) 1.450454545
    standart deviation 0.356865909

    • Variance is the expected squared departure of a random variable from its population mean or
    sample mean in probability theory and statistics. Variance is a measurement of distribution, or how
    much a group of data deviates from its overall average.
    Σ ( x− x )
    s2=
    n−1
    • In statistics, the mean is a single number that represents the data's center point or usual value and
    summarizes an entire dataset. The arithmetic average is another name for it.
    x̄ = Σ(x) / n.
    • Standard deviation - The square root of the variance of a random variable, sample, statistical
    population, data collection, or probability distribution is its standard deviation.

    s= √ s2 .

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