econ 140 2 - Economics 140 Professor Enrico Moretti Lecture...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Economics 140 Professor Enrico Moretti 02/01/10 Lecture 2 ASUC Lecture Notes Online is the only authorized note-taking service at UC Berkeley. Do not share, copy or illegally distribute (electronically or otherwise) these notes. Our student-run program depends on your individual subscription for its continued existence. These notes are copyrighted by the University of California and are for your personal use only. D O N O T C O P Y Sharing or copying these notes is illegal and could end note taking for this course. ANNOUNCEMENTS Problem set 1 will be collected today. Please hand in the problem set to the GSI who is formally in charge of you. Problem set 2 will be due next Monday, February 8th. It will be posted tonight or tomorrow night at the latest. LECTURE Last week, we covered chapter 3 and part of chapter 4. Today, we will finish chapter 4, chapter 5, and some parts of chapter 6. Next week, we will do chapters 6 and 7. Measures of Tendency: Median : The middle of the distribution. It is the number “m” such that: pr(x < m) 1/2 pr(x > m) 1/2 For ex: x pr(x) 3 .1 5 .2 7 .1 9 .2 10 .3 11 .05 12 .05 Which x is the median? x= 9 is the median. Why use the median over the mean? Median is robust to outliers. In a population, suppose we have a bunch of regular folks and one Bill Gates. If we use the mean to take a look at people’s wages, we won’t have a good representation of the average worker’s wage. The mean will be strongly influenced by Bill Gates’ wage (the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 2

econ 140 2 - Economics 140 Professor Enrico Moretti Lecture...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online