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Unformatted text preview: Variance: Population Variance: What are and ? Standard Deviation: The standard deviation is the positive square root of the variance. It has the same units as the data, which makes it more easily comparable to the mean than the variance. Sample Standard Deviation: Population Standard Deviation: NOTATIONS: Population Sample Mean Variance 2 s 2 Standard Deviation s Why Mean, Variance, and SD? Which Supplier would you choose? Supplier A Supplier B Mean Of delivery Times 8 10 SD of delivery times 3.5 3 Example: Police records show the following numbers of daily crime reports for a sample of days during the summer months Summer 28 18 24 32 18 a. Compute the mean and Sample variance ( both formulas) b. Compute the standard deviation Summer x i 1 75 2 78 3 79 4 77 5 75 6 73 7 75 8 77 Sum Average...
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This note was uploaded on 12/06/2011 for the course MGMT 305 taught by Professor Priya during the Fall '08 term at Purdue UniversityWest Lafayette.
 Fall '08
 Priya

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