2024-05-22 Isle of Man Pound News
2024-05-21
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 the exchange rates:
Upon reviewing the dataset, the overall trend of the data indicates that the exchange rate has generally remained relatively stable. While there have been slight variations in the exchange rate that include both increases and decreases at various points throughout the data, the opening rate of 1.71289 and the closing rate of 1.71381 show that there was an approximate 0.05% increase from the starting to the ending data point, suggesting minimal volatility during this period.
Identifying Seasonality or Recurring Patterns in The Exchange Rates:
When it comes to seasonality or recurring patterns, time series data can be sensitive to the period under consideration. Without specific information about what is considered a 'season' in this dataset, it would require more complex statistical analysis to conclusively establish the presence of seasonal patterns. However, simple observation does not indicate a clear-cut seasonal trend within this specific dataset.
Outliers Analysis:
Outliers are data points that differ significantly from other observations. They might indicate variability in the measurements or could potentially indicate an experimental error. However, without statistical thresholds and analysis, it could be challenging to comprehensively identify outliers in this dataset based on simple observation. However, the highest rate of 1.71708 and lowest rate of 1.71033 could potentially be outliers, but more detailed analysis would be needed.
Please note, this is a visual and rudimentary assessment of the data. For a more accurate and precise analysis, implementing statistical models such as time series analysis or regression models might be necessary.
