2024-05-15 Tugrik News
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2024-05-14
Summary of Yesterday
- Opening:
- Closing:
- Difference of Opening & Closing:
- Daily High:
- Daily Low:
- Difference of Daily High & Low:
Statistical Measures
- Mean:
- Standard Deviation:
Trend
Due to the lack of tools and resources on this platform to run deep analyses on the dataset, here is a conceptual overview of how I would undertake the analysis:1. Understanding the Overall Trend of Exchange Rates
Understanding the overall trend would involve the use of descriptive statistics to identify the central tendency and variability. The mean, median, mode, range, variance, and standard deviation would provide some insight into the general trend. Plotting a line graph would provide a visual representation of how the exchange rate changes over time. The initial look at the data shows the value is stable at 0.0004, so more data might be required to truly understand the trend.
2. Identifying Seasonality or Recurring Patterns
Time-series analysis techniques would come into play here. Autocorrelation plots and spectral analysis can help identify whether there are regular, repeating patterns in the data that could suggest seasonality. The Fourier Transform method could also be employed to find any cyclical pattern. Again, due to the current dataset showing a constant exchange rate, recognizing seasonality might be challenging.
3. Noting any Outliers
Identifying outliers would involve plotting the data in a form where unusual values can be easily spotted. A box plot is a common tool for spotting outliers, but the dataset's peculiar characteristics of stable value at 0.0004 seem to indicate a lack of outliers. However, confirmatory statistical tests such as the Z-score or IQR method can be used to further identify outliers.
Due to the peculiar nature of this dataset, I strongly recommend considering external data or expanding the dataset to allow a more enriched analysis of the MNT exchange rate trend, seasonality, and unusual behavior. At the current moment, the exchange rate appears to be stable at 0.0004.![Unwavering MNT Exchange Rate Maintains Stability Amid Global Fluctuations](http://currencymart.net/images/news/tugrik/2024-05-15/img-K6i2AmjNFyhLqydXmwB6Gbdq.webp)