Descriptive Stats Q%26A

Descriptive Stats Q%26A - The high values are those values...

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

View Full Document Right Arrow Icon
Descriptive Statistics: Questions and the Appropriate Responses Question Semantic Response Functional Response What is or should be expected for the sample? What’s expected is the “expected value” E ( X ), where X is the random variable representing the sampled attribute. ( 29 = = = n i i x n x X E 1 1 , where X is the random variable consisting of n sample values x i . What is expected for the population? The expected value for the population is approximated as the value expected of the sample drawn from that population. x μ , allowing for (i.e., plus or minus) some margin of error. What is typical of the sample? The typical value is the mode and the range of typical values is the modal class. ( 29 { } i i e x values sample all of x freq with x value some for x x max * * mod = What are the high (well, expensive) and low (poorly, inexpensive) values in the sample? The median separates the high from the low ranked sample values.
Background image of page 1

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

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

This note was uploaded on 01/26/2011 for the course OM 210 taught by Professor Singer during the Fall '08 term at George Mason.

Page1 / 2

Descriptive Stats Q%26A - The high values are those values...

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