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18 download_doc-7.php - L esson 5 I. Measuring Variation a....

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Lesson 5 I. Measuring Variation a. Purposes i. Instead of trying to find a “common” value we want to measure how different one observation is from another ii. They help us make judgments about how similar observations in a data set are to each other b. Words for measures of Variations i. Dispersion ii. Spread iii. Deviation c. Types i. Range 1. Definition a. Measures how far apart the highest value and the lowest value in the set are 2. Calculation a. Maximum value – minimum value 3. Benefits a. Simplest to calculate and understand b. Calculation is the same for parameters and statistics 4. Drawbacks a. Only uses two values from the data set → meaning a lot of information is left out i. Doesn’t account for all the observations between the lowest and highest points
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b. Sensitive to extreme values → like the mean ii. Variance 1. Definition a. Similar to deviation → measures the distance from a set point b. Measures the “typical” square distance of an observation from the
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This note was uploaded on 04/18/2011 for the course BUS 370 taught by Professor Camp during the Winter '09 term at Indiana.

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18 download_doc-7.php - L esson 5 I. Measuring Variation a....

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