2024-05-08 Cayman Islands Dollar News
2024-05-07
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Understanding the Overall Trend of Exchange rates
Looking at this data, the overall trend in the exchange rates is unclear just from a single view. To obtain a comprehensive understanding, the rates would need to be plotted on a time series chart to visualize the direction and magnitude of changes clearly. From there, statistical measures such as the mean, variance, and changes over specific periods could be used to quantify the observed trends.
Seasonality or Recurring Patterns
Regarding seasonality or recurring patterns, the data provided does not make it immediately clear if such patterns exist. Like the overall trend, visible patterns are often better identified through graphical representation. A line graph would reveal if there are consistent, regular fluctuations suggestive of seasonal factors. Such patterns could be daily (e.g., rates being consistently higher at certain times of the day), weekly (higher on certain days of the week), or otherwise. A lack of noticeable, regular patterns would suggest that the rates are not significantly affected by the time of day or week.
Noting Outliers
Outliers are observations that differ significantly from the pattern described by the majority of the data. Identification of outliers requires not just the raw data, but also some measure of the 'typical' or 'expected' values. In the absence of an established model or theory to generate these expectations, outliers are often identified through statistical measures, such as being more than 2 or 3 standard deviations away from the mean value. Depending on the distribution of the data, other methods such as box-plots or the interquartile range may be used to identify outliers. Without applying these measures to the data, raw observations that appear to differ greatly from those around them may hint at the potential presence of outliers, such as sudden, large jumps or drops in the exchange rate.
