ABSTRACT
This chapter outlines the main representations of information and the usual manipulations required in preparing data for undertaking empirical research. It reviews the common representations of information through values, variables, constants, parameters and equations. The chapter briefly reviews the mathematical operations, rules and symbols contained in formulae, which are instructions on how to execute a calculation. It examines the important concepts involved in the construction of indices (indexes), a common method of recording and grouping heterogeneous information together, and the interpretation of their values. The chapter explains the application of descriptive statistics by investigating the past investment performance of three assets: commercial property, equities and bonds. Descriptive statistics involves the organisation of the data to reveal its general pattern, namely the location of where most values tend to concentrate and their dispersion, and in the process exposing extreme or unusual data values and any asymmetries.
