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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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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.
- Fall '08