CSN - ECON 261 - QUIZ #2

CSN - ECON 261 - QUIZ #2 - PRINCIPLES OF STATISTICS I ECON...

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PRINCIPLES OF STATISTICS I ECON 261 QUIZ#2 NAME: True(T)/False(F) \ \ j l J £ 1. A value that is typical or representative of the data is referred to as a measure of location or central tendency. ~ The mean is the sum of the observations divided by the total number of observations. __ 0 -0 For a set of data arranged or sorted in numerical order, the value of the observation in the center is called the weighted mean. The mode is the value of the observation that appears most frequently. ~ - The variance is the ~ean of the sum of the squared deviations between each observation ·-------- and the median. io-fw __ 6 Extremely high or low scores affect the value of the median. ,;;;_ ~ For salaries of \$102,000, \$98,000, \$45,
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