210-Class-Handout-Oct-01

50 3999949 class this class goes from the 1st

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 9 class. This class goes from the 1st observation to the 6th observation. The 5.5th observation will be: . . 0.9 of the way through the class. lower bound of class + 0.9 x width of class = $19,999.50 + 0.9 x $20,000 = $37,999.50 (iii) Mean (a.k.a “average”) - close to physics definition of center of gravity Terminology: - If data is from entire population: mean denoted by μ - If data is from sample: mean denoted by For ungrouped (raw data), for n individual observations where xi ∊ X ∑ For grouped data with m groups: Class Freq fi 0- $19,999.49 1 $19,999.50 - $39,999.49 5 $39,999.50 - $59,999.49 2 $59,999.50 - $79,999.49 1 $79,999.50 - $99,999.49 1 10 Sum 21 10 Rel Freq fi/n 0.1 0.5 0.2 0.1 0.1 1.0 2.1 Midpoint Mi 9,999.50 29,999.50 49,999.50 69,999.50 89,999.50 For frequency data: ∑ , . $41,999.50 For relative frequency data: 41,999.50 f iM i (fi/n)Mi 9,999.50 149,997.50 99,999.00 69,999.50 89,999.50 419,995.00 999.95 14,999.75 9,999.90 6,999.95 8,999.95 41,999.50 Professor S...
View Full Document

Ask a homework question - tutors are online