##### EC315, created by helenbutler

Description: Quantative Research Methods

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#### Complete List of Terms and Definitions for EC315

Terms Definitions
What is the relationship among the mean, median and mode in a symmetric distribution? They are all equal
Select the measure of central location where the sum of the deviations of each value from the data's average will always be zero. Mean
If a frequency distribution has open-ended intervals at the extremes, which measure of central location is the most difficult to estimate? Mean
Which measures of central location are not affected by extremely small or extremely large values? Mode and Mean
Which measure of central location is used to determine an average annual percent increase? Geometric Mean
Fifteen accounting majors had an average grade of 90 on a finance exam. Seven marketing majors averaged 85, while ten finance majors averaged 93 on the same exam. What is the weighted mean for the 32 students taking the exam? 89.84
A sample of light trucks using diesel fuel revealed the following distribution based on fuel efficiency, i.e., miles per gallon (mpg). 18.6
If the sample variance for a frequency distribution consisting of hourly wages was computed to be 10, what is the sample standard deviation? \$3.16
What are the disadvantage(s) of the mean deviation? Uses absolute values, which are difficult to maniupulate