Unformatted text preview: which at worst can just slip to the next closest value in the middle of the data. For this reason, it's often called a "robust" statistic. When our data are very skewed, we also like to use the median, because it is not affected much by the small proportion of the data with very high or very low values. This is a reason medians are often used for INCOME distributions, especially in countries where wealth is concentrated. Finally, we can also use the MODE. Modes are used in situations like voting, where the candidate with the most votes wins. Or, if we are a clothing manufacturer and can only make ONE size, we would make the mode: the one size the most people wore. Modes aren't used as much in statistics, but are sometimes useful is the data are VERY skewed, or if there seem to be two or more "humps" in the data, indicating a "multi-modal" distribution....
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This document was uploaded on 05/10/2011.
- Spring '11