This preview shows pages 1–4. Sign up to view the full content.

Lesson 4 I. Summary Stats and Population Parameters a. Definition i. Reduces a data set to a single # with a specific well-known meaning b. Names i. Parameters 1. Describe populations 2. Represented by lower case Greek letters a. ii. Statistics 1. Describe samples 2. Represented by lower case Latin letters a. c. Types i. Measures of central tendency 1. Determine: a. physical center of the data b. location of data on a # line c. center of balance → or a “rep” value of the set ii. measures of dispersion 1. Describe: a. How spread out b. How diverse II. Measures of Central Tendencies

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

View Full Document
a. Arithmetic Mean i. AKA average ii. iii. Notation 1. Parameter: 2. Statistic: iv. Importance 1. All quantitative data have 1 and only one mean 2. All observations in that data set are used in its calculation 3. Deviations a. The distance of any obs. from the mean i. b. The sum of the deviations from the mean is: i. ii. “Balance point” v. Drawbacks 1. It is influenced by outliers vi. Another form for mean 1. Weighted mean a. For data sets with multiples identical entries i.
ii.

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

View Full Document
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

### What students are saying

• As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

Kiran Temple University Fox School of Business ‘17, Course Hero Intern

• I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

Dana University of Pennsylvania ‘17, Course Hero Intern

• The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

Jill Tulane University ‘16, Course Hero Intern