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Course #: MGMT650
Course Title: Statistics for Managerial Decision Making
Week 2:
Calculating and Displaying Descriptive Statistics: managers use different statistics to describe or summarize data.
Measures like the mean, median, mode, standard deviation, variance, range, interquartile range are all used for different
reasons.
Frequency distributions and graphical depictions can also be valuable tools to summarize data.
Learning Objectives
:
1.
Basic descriptive statistics used to describe data:
Measures of central tendency
https://statistics.laerd.com/statistical-guides/measures-central-tendency-mean-mode-median.php
Also, see FAQs on p. 2
Measure of location
Quartile
http://www.stats.gla.ac.uk/steps/glossary/presenting_data.html#quart
Measures of spread
Sample standard deviation
http://www.stats.gla.ac.uk/steps/glossary/presenting_data.html#standev
Sample Variance
http://www.stats.gla.ac.uk/steps/glossary/presenting_data.html#sampvar
Range
http://www.stats.gla.ac.uk/steps/glossary/presenting_data.html#range
Interquartile range
http://www.stats.gla.ac.uk/steps/glossary/presenting_data.html#iqr
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- Fall '14
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