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Unformatted text preview: 1 gives an unbiased estimate of variance (More
later). v༇ What happens when n = 1? Coefficient of Variation
v༇ degined as the ratio of SD to the mean v༇ has no units (of measurement)
v༇ usually is expressed as a percentage v༇ indicates how large SD is relative to the mean IQR and SD
IQR
v༇ Robust measure (same as
the median).
v༇ Has the same units as the
observations. SD
v༇ NOT a robust measure
(same as the mean).
v༇ Has the same units as the
observations.
v༇ SD=0 if and only if all the
observations are equal. Ex1: Provide an example where IQR=0 but SD is not 0. Five Number Summary
ü༏ the smallest observation (MIN)
ü༏ the first quartile (Q1)
ü༏ the median (MD)
ü༏ the third quartile (Q3)
ü༏ the largest observation (MAX) We graph this summarization by a boxplot. Customer satisfaction data
Min Q1 Median Q3 Max 1 7.5 8 9 10 Boxplot & Whiskers Plot (simplest form)
v༇ The central box spa...
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This note was uploaded on 01/15/2014 for the course BUAD 310 taught by Professor Lv during the Fall '07 term at USC.
 Fall '07
 Lv

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