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Chapter3 - Elementary Statistics Workshop Chapter3...

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Elementary Statistics Workshop Chapter3. Descriptive Statistics: Numerical Measures
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Part A: 1. Measures of Location 2. Measures of Variability
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If the measures are computed for data from a sample, they are called sample statistics . If the measures are computed for data from a population, they are called population parameters . A sample statistic is referred to as the point estimator of the corresponding population parameter. Mean Measure of Location Median Mode Percentiles Quartiles
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The mean of a data set is the average of all the data values. The sample mean is the point estimator of the population mean m . x Mean
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Population Mean m Number of observations in the population Sum of the values of the N observations i x N m
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Sample Mean Example: Apartment Rents Seventy efficiency apartments were randomly sampled in a small college town. The monthly rent prices for these apartments are listed in ascending order as below 425 430 430 435 435 435 435 435 440 440 440 440 440 445 445 445 445 445 450 450 450 450 450 450 450 460 460 460 465 465 465 470 470 472 475 475 475 480 480 480 480 485 490 490 490 500 500 500 500 510 510 515 525 525 525 535 549 550 570 570 575 575 580 590 600 600 600 600 615 615
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34,356 490.80 70 i x x n 425 430 430 435 435 435 435 435 440 440 440 440 440 445 445 445 445 445 450 450 450 450 450 450 450 460 460 460 465 465 465 470 470 472 475 475 475 480 480 480 480 485 490 490 490 500 500 500 500 510 510 515 525 525 525 535 549 550 570 570 575 575 580 590 600 600 600 600 615 615 Sample Mean
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