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Unformatted text preview: The “high” values are those values x i for which x i > median. The “low” values are those values x i for which x i < median. What are the very high (very well, very expensive) and very low (very poorly, very inexpensive) values in the sample? The very high values are in the highest (fourth) quarter of the ranked sample values. The very low values are in the lowest (first) quarter. The “high” values are those ranked values x i for which x i > Q 3 (= third quartile). The “low” values are those ranked values x i for which x i < Q 1 (= first quartile). How representative of the sample is the mean? CV as the measure of s to x-bar measures the respresenativeness of the mean. Very good representative value if at most CV < 0.05 © 2002 by Harvey A. Singer © 2002 by Harvey A. Singer...
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- Fall '08
- Standard Deviation, Probability theory, Quartile, Quantile