Week1_Part_C

Week1_Part_C - Week1:Chapter2continued...

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Click to edit Master subtitle style Week 1: Chapter 2 continued Descriptive Statistics: Averages and Variation
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Measures of Central Tendency Even though the concepts of averages and  variation are introduced here, they are also  cornerstones of inferential measurement The three most  commonly   used measures of  central tendency are: 1.  Mode 2.  Median
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Standard Notation Measure Sample Population Mean f8e5 X μ Stand. Dev. S σ Variance S 2 σ 2 Size n N
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Mean Most frequently used measure of central  tendency It uses all the elements of the data set in its  calculation and, as a result, is affected  by  extreme values It is calculated by summing all the values in  the data set and dividing by  n ,   the number of  X= (x1+x2+ … +xn)/ n
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Median The median is the value that represents the  middle position  in the data set; it is the point  at which 50% of the values in the data set lie  above it and below it; it’s the 50th %tile The median does not have to be a value in  the data set when n is even It is a stable measure; it is resistant to the 
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Median Steps to find the Median
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This note was uploaded on 05/17/2011 for the course BIS 115 taught by Professor Wright during the Spring '10 term at DeVry Chicago.

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Week1_Part_C - Week1:Chapter2continued...

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