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SUMMARY OF TOPICS FOR BUSN225 TEST 1 CHAPTER 1 – OMIT CHAPTER 2 – DATA SAMPLE POPULATION UNGROUPED Identify ungrouped data Graphs: line, bar, pie, stem-and-leaf - OMIT GROUPED Frequency distribution: n, i, midpoint Percentage distributions Graphs: histogram, frequency polygon - OMIT CHAPTER 3 – CENTRAL TENDENCY AND VARIABILITY SAMPLE POPULATION UNGROUPED Mean Median Mode Range Standard deviation Coefficient of Variation Pearson’s Coefficient of Skewness (sk) Percentiles – Deciles, Quartiles Weighted mean Mean Pearson’s Coefficient (sk) a) No Skew = sk is zero b) Negative Skew = sk lies between -3 and 0 c) Positive Skew = sk lies between 0 and +3 Quartiles = x is a multiple of 25 Deciles = x is a multiple of 10 Page 1 of 3
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TEST 1 REVIEW 1. TASTY BAKERY collects the following sample data.. QUANTITY PRICE 20 $7 10 $5 30 $8 Calculate the weighted mean for price 2. ACME WIDGET collects the following population data for the length of widgets: 6 8 10 7 8 Calculate the mean of the data.
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