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- Economic Statistics 2 Class Notes Recall Raw Data The first thing you do is arrange the numbers in order 71 73 75 78 80 80 80 81 81 81 83 83 83

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Recall – Raw Data The first thing you do is arrange the numbers in order: 71, 73, 75, 78, 80, 80, 80, 81, 81, 81, 83, 83, 83, 83, 86, 87, 89, 91, 91, 91, 95 The frequency table: Class Frequency (see table above) Relative Frequency [ f x ] 70-74 2 = (2/21) = .095 75-79 2 = (2/21) = .095 80-84 10 = (10/21) = 0.476 85-89 3 = (3/21) = 0.143 90-94 3 = (3/21) = 0.143 95-99 1 = (1/21) = 0.048 N = 21 Summation of relative frequencies = 1 Total number of observations = 21 0.095 This relative frequency can be thought of as the probability ( the long-run relative frequency) We have some control over the interval width of each class. You want to choose meaningful class intervals (like if you are working with grades, then you want to choose the intervals for C-, C, C+, B-, B, B+, A-, A, A+, etc. fx = relative frequency of class x fx = f(80-84 interval) = 0.476 IMPORTANT: If the relative frequencies are long run relative frequencies , then

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This note was uploaded on 06/03/2009 for the course ECON 203 taught by Professor Casler during the Spring '09 term at Allegheny.

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- Economic Statistics 2 Class Notes Recall Raw Data The first thing you do is arrange the numbers in order 71 73 75 78 80 80 80 81 81 81 83 83 83

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