BUAD_lecture2_08

BUAD_lecture2_08 - (approximately): 99% 99.5% within 3 SD....

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1 BUAD310 2008 Lecture 2 Box plot Empirical rule Chebyshev rule
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2 Graphical Summaries Histogram: Bar chart of frequencies. Center, spread, skewness, bimodality, outliers. Requires two dimensions. Normal Curve: (Too fit histogram) Center and spread. If the normal model fits well, two numbers can summarize many. Boxplot: Center spread, skewness, outliers. Requires only one dimension.
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3 Boxplots 5.0 6.0 7.0 8.0 median quartiles whiskers outliers outliers Boxplot: Center spread, skewness, outliers. Less informative than histogram. Requires only one dimension.
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4 How to make Box plot More detailed version of box plot
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5 What does box plot tell us?
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6 Extra Page
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7 Distribution Shape and Box and Whisker Plot Right-Skewed Left-Skewed Symmetric Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Now what is the relationship between Mean, Median and Mode for the above graphs ?
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8 The Empirical Rule 0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 -4 -3 -2 -1 0 1 2 3 4 Z If the normal curve fits well then
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Unformatted text preview: (approximately): 99% 99.5% within 3 SD. 68% 68% of the data is within 1 SD of the mean. 95% 95% within 2 SD. 9 If the data distribution is bell-shaped, then the interval: contains about 68% of the values in the population or the sample The Empirical Rule 1 X 68% 1 10 contains about 95% of the values in the population or the sample contains about 99.5% of the values in the population or the sample The Empirical Rule 2 3 3 99.5% 95% 2 11 Examples of Empirical Rule 12 Examples of Empirical Rule 13 Chebyshevs rule For any measurements, At least 100(1 (1/k 2 ))% of the values must lie within the interval and K1. s k X 14 Examples of Chebyshev Rule 15 Examples of Chebyshev Rule 16 Case study If time permits we will do a case study in class....
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BUAD_lecture2_08 - (approximately): 99% 99.5% within 3 SD....

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