Why is box and whisker plot useful3/10/2024 I love the CFA Program and truly value the skills and ethics that are imparted to make me a better finance professional. I managed to pass my Level II and Level III exams consecutively with considerably less effort and stress than when I did my level I. Instead of reserving huge segments of time to study, I carved out pockets of time to learn and practise – accommodating to my full-time job. Being a visual learner, I took notes and summaries in pictorial form. Based on the Pareto 80/20 principle, I learnt to extract the most essential bits from the curriculum enough to give me that 80% result to pass. Tweaking the approachįor the Level II exam, I endeavoured not to repeat the mistakes I made. It was an experience I would not want to revisit though. By God’s grace, I did pass my Level I exam in June 2014. That was basically my attitude as I burrowed through my exam prep with toil and stress. No matter how bleak it seems, at least sit for the exam and treat it as a learning experience. My mind simply could not keep up after a hard day at work.ĭoes all these sound familiar to you? Well, take heart. I can still recall the number of times I dozed off while studying, or just going back and forth trying to understand even the simplest concept. Having no background in finance at all, I tried very hard to read the curriculum from cover to cover, but eventually that fell flat. To compound my problems, I basically did not have a preparation strategy. It was not until the middle of March 2014 that I realized I only had a little more than 2 months to the exam. I naturally neglected the preparation for my Level I exam in June 2014. Was it tough? You bet!Īdjusting to the drastic career change was tough. Having developed a keen interest in finance, I decided on a career switch to the finance field and enrolled into the CFA program at the same time. I am a Computer Engineering graduate and have been working as an engineer all my life. See also: Quantiles, Trimmed mean, Winsorized meanĪre you a CFA Level I candidate, or someone who is exploring taking the CFA exam? Four years ago, I was in your shoes. They can also be used to identify potential outliers in the data. Outliers, or data points that are significantly different from the rest of the data, may also be plotted as individual points outside the whiskers.īox and whisker plots are a useful way to visualize the spread and skewness of a dataset, and to compare the distribution of data between different groups. The lower half of the box represents the lower quartile (25th percentile) of the data, and the upper half of the box represents the upper quartile (75th percentile). The box is divided into two parts by a horizontal line, called the median line, which represents the median (or middle) value of the data. The plot consists of a box, which represents the middle 50% of the data, and whiskers, which extend from the box to the minimum and maximum values of the data. It is particularly useful for comparing the distribution of data between different groups or conditions. Tukey JW (1977) Introductory data analysis.A box and whisker plot, also known as a box plot, is a graphical representation of a dataset that displays the distribution of the data. Tufte E (1983) The visual display of quantitative information. Sim CH, Gan FF, Chang TC (2005) Outlier labeling with boxplot procedures. Rousseeuw PJ, Ruts I, Tukey JW (1999) The Bagplot: a bivariate boxplot. McGill R, Tukey JW, Larson WA (1978) Variations of the box plots. In: Proceedings of the annual meeting of the american statistical association Iglewicz B, Banerjee S (2001) A simple univariate outlier identification procedure. Hoaglin DC, Iglewicz B, Tukey JW (1986) Performance of some resistant rules for outlier labeling. Hoaglin DC, Iglewicz B (1987) Fine-tuning some resistant rules for outlier labeling. Hintze J, Nelson RD (1998) Violin plots: a boxplot–density trace synergism. Goldberg KM, Iglewicz B (1992) Bivariate extensions of the boxplot. Am Stat 42: 257–262įrigge M, Hoaglin DC, Iglewicz B (1989) Some Implementations of the boxplot. Commun Stat Simul Comput 36:249–263īenjamini Y (1988) Opening the box of a boxplot. Banerjee S, Iglewicz B (2007) A simple univariate outlier identification procedure designed for large samples.
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