Unit-4 Measures of Central Tendency B.A.III(HONS)

Size: px
Start display at page:

Download "Unit-4 Measures of Central Tendency B.A.III(HONS)"

Transcription

1 Unit-4 Measures of Central Tendency B.A.III(HONS)

2 INTRODUCTION Measures that reflect the average characteristics of a frequency distribution are referred to as measures of central tendency. Mean, median and mode are three most commonly used measures of central tendency. Mean is the mathematical measure while median and mode are the positional measures.

3 MEAN THE MEAN IS OF FOUR TYPE: 1 ARITHMETIC MEAN ( X ) 2 GEOMETRIC MEAN (GM) 3 HARMONIC MEAN (HM) 4 QUADRACTIC MEAN (QM). ARITHMETIC MEAN IS MORE FREQUENTLY USED.

4 ADVANTAGES OF ARTHMETIC MEAN It makes information so simple that even a common man understands its meaning. Its calculation is easy. It is not necessary that given units may be orderly ranked. It takes into consideration all the scores in distribution. Mean of different distributions are useful for comparative purposes.

5 DISADVANTAGES OF ARTHEMETHIC MEAN It is difficult to assume arthemetic mean merely by seeing the frequencies of the units. It cannot be used for qualitative analysis If the frequency of any one unit is missing, mean cannot be calculated The mean is usually outside the given units. Mean gives more importance to large frequencies than smaller ones. Mean is not useful in calculating ratio.

6 MEDIAN

7 MEANING IT IS THE MIDDLE VALUE IN A SERIES OF VALUES THAT DIVIDES DISTRIBUTION INTO TWO EQUAL PARTS, i.e., half of the values lies above the median and half below it.

8 Median in different types of series Individual series Formula: Median= size of(n+1)/2th item (where N is the number of items)

9 In continious series Mdn=l1+l2-l1/f*(m-c) or =l1+i/f*(m-c) where: l1=lower limit of the median group L2=upper limit of the median group f=frequency of the median group m =middle item c =cumulative frequency of the group prior to the median group i =l2-l1

10 ADVANTAGES OF MEDIAN Median can be calculated in all distributions. If the frequencies in observations are arranged in ascending order, the median can be calculated merely by looking at the extreme items. Median can be understood even by common people. It is very useful in quantitative analysis.

11 LIMITATION OF MEDIAN Its use is limited as it is not used in the context of qualitative phenomena.(e.g. IQ of individuals) It cannot be used where items are assigned weights.

12 MODE

13 MEANING THE MODE IS THE MOST FREQUENT VALUE OR SCORE IN THE DISTRIBUTION, i.e., It is the score with the highest number of points on the score scale

14 OBJECTIVE The objective of mode is descriptive frequent value.

15 INDIVIDUAL SERIES Distribution can have one mode(uni-mode), two mode (bimodal),more than two modes (multi-modal), or even no mode at all (non-modal) The mode is not calculated mathematically but is identified logically on the basis of its relationship with other values. It is a measure to see rather than to calculate

16 Continious series Formula: Z =l1+ f1-fo/2f1 fo f2 * (l2 l1) where: Z= is the mode l1 = lower limit of the modal class interval or group l2 =upper limit of the modal class interval or group f1 = frequency of the modal group fo = frequency of the group prior to the modal group f2 = frequency of the group just after the modal group

17 ADVANTAGES OF MODE In simple series the mode can be easily defined by observation. It can also be identified by a graph. It is easy to calculate. It is useful in the study of popular sizes.

18 LIMITATIONS OF MODE It is not stable measure of central tendency as its position might shift whenever the manner of the distribution s divisions into categories is altered. It is not amenable to algebric treatment. It remains indeterminate when have two or more modal values in a series. It is unsuitable in cases where we want to give relative importance to items under consideration.

19 CONCLUSION Mean (average of all the values) used at interval level of measurement Median (distribution s mid-point) used at ordinal level of measurement. Mode (highest density in the distribution)used at nominal level of measurement.

20 LEVELS OF MEASUREMENT

21 NOMINAL SCALE This scale classifies individuals into two or more categories, the members of which differ with respect to the specific characteristic. The categories have no rank order. Example:hindus and non hindus, male and females. All the members of a set are assigned the same numerals and no two sets are assigned the same numeral

22 ORDINAL SCALE This scale ranks individuals along the continuum of the charactreristic being scaled,say, from highest to lowest, greater to least, first to last and so on. Suppose a,b and c are three students and a is the first divisioner,b is second divisioner and c is third divisioner. Ordinal number indicates only rank order and nothing more.

23 INTERVAL SCALE This scale has equal units of measurement which enables the researcher to interpret the distance between them.

24 RATIO SCALE This is the scale which has absolute zero point of origin and which explains proportion of one value to another. Example: the ratio of female crime to male crime is 1:19 Ratio scales are also referred to as absolute scales.

25 CONCLUSION TYPE OF SCALE RANGE Central Tendency Nominial Number of categories Mode Ordinal Number of Scaler Positions Median Interval or Ratio Top score minus Mean Bottom Score

DESCRIPTIVE STATISTICS. The purpose of statistics is to condense raw data to make it easier to answer specific questions; test hypotheses.

DESCRIPTIVE STATISTICS. The purpose of statistics is to condense raw data to make it easier to answer specific questions; test hypotheses. DESCRIPTIVE STATISTICS The purpose of statistics is to condense raw data to make it easier to answer specific questions; test hypotheses. DESCRIPTIVE VS. INFERENTIAL STATISTICS Descriptive To organize,

More information

Descriptive Statistics and Measurement Scales

Descriptive Statistics and Measurement Scales Descriptive Statistics 1 Descriptive Statistics and Measurement Scales Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample

More information

CA200 Quantitative Analysis for Business Decisions. File name: CA200_Section_04A_StatisticsIntroduction

CA200 Quantitative Analysis for Business Decisions. File name: CA200_Section_04A_StatisticsIntroduction CA200 Quantitative Analysis for Business Decisions File name: CA200_Section_04A_StatisticsIntroduction Table of Contents 4. Introduction to Statistics... 1 4.1 Overview... 3 4.2 Discrete or continuous

More information

Using SPSS, Chapter 2: Descriptive Statistics

Using SPSS, Chapter 2: Descriptive Statistics 1 Using SPSS, Chapter 2: Descriptive Statistics Chapters 2.1 & 2.2 Descriptive Statistics 2 Mean, Standard Deviation, Variance, Range, Minimum, Maximum 2 Mean, Median, Mode, Standard Deviation, Variance,

More information

Descriptive Statistics. Purpose of descriptive statistics Frequency distributions Measures of central tendency Measures of dispersion

Descriptive Statistics. Purpose of descriptive statistics Frequency distributions Measures of central tendency Measures of dispersion Descriptive Statistics Purpose of descriptive statistics Frequency distributions Measures of central tendency Measures of dispersion Statistics as a Tool for LIS Research Importance of statistics in research

More information

Means, standard deviations and. and standard errors

Means, standard deviations and. and standard errors CHAPTER 4 Means, standard deviations and standard errors 4.1 Introduction Change of units 4.2 Mean, median and mode Coefficient of variation 4.3 Measures of variation 4.4 Calculating the mean and standard

More information

Concepts of Variables. Levels of Measurement. The Four Levels of Measurement. Nominal Scale. Greg C Elvers, Ph.D.

Concepts of Variables. Levels of Measurement. The Four Levels of Measurement. Nominal Scale. Greg C Elvers, Ph.D. Concepts of Variables Greg C Elvers, Ph.D. 1 Levels of Measurement When we observe and record a variable, it has characteristics that influence the type of statistical analysis that we can perform on it

More information

Statistics. Measurement. Scales of Measurement 7/18/2012

Statistics. Measurement. Scales of Measurement 7/18/2012 Statistics Measurement Measurement is defined as a set of rules for assigning numbers to represent objects, traits, attributes, or behaviors A variableis something that varies (eye color), a constant does

More information

II. DISTRIBUTIONS distribution normal distribution. standard scores

II. DISTRIBUTIONS distribution normal distribution. standard scores Appendix D Basic Measurement And Statistics The following information was developed by Steven Rothke, PhD, Department of Psychology, Rehabilitation Institute of Chicago (RIC) and expanded by Mary F. Schmidt,

More information

COMPARISON MEASURES OF CENTRAL TENDENCY & VARIABILITY EXERCISE 8/5/2013. MEASURE OF CENTRAL TENDENCY: MODE (Mo) MEASURE OF CENTRAL TENDENCY: MODE (Mo)

COMPARISON MEASURES OF CENTRAL TENDENCY & VARIABILITY EXERCISE 8/5/2013. MEASURE OF CENTRAL TENDENCY: MODE (Mo) MEASURE OF CENTRAL TENDENCY: MODE (Mo) COMPARISON MEASURES OF CENTRAL TENDENCY & VARIABILITY Prepared by: Jess Roel Q. Pesole CENTRAL TENDENCY -what is average or typical in a distribution Commonly Measures: 1. Mode. Median 3. Mean quantified

More information

Descriptive Statistics

Descriptive Statistics Descriptive Statistics Primer Descriptive statistics Central tendency Variation Relative position Relationships Calculating descriptive statistics Descriptive Statistics Purpose to describe or summarize

More information

STA-201-TE. 5. Measures of relationship: correlation (5%) Correlation coefficient; Pearson r; correlation and causation; proportion of common variance

STA-201-TE. 5. Measures of relationship: correlation (5%) Correlation coefficient; Pearson r; correlation and causation; proportion of common variance Principles of Statistics STA-201-TE This TECEP is an introduction to descriptive and inferential statistics. Topics include: measures of central tendency, variability, correlation, regression, hypothesis

More information

3.2 Measures of Spread

3.2 Measures of Spread 3.2 Measures of Spread In some data sets the observations are close together, while in others they are more spread out. In addition to measures of the center, it's often important to measure the spread

More information

Descriptive Analysis

Descriptive Analysis Research Methods William G. Zikmund Basic Data Analysis: Descriptive Statistics Descriptive Analysis The transformation of raw data into a form that will make them easy to understand and interpret; rearranging,

More information

S P S S Statistical Package for the Social Sciences

S P S S Statistical Package for the Social Sciences S P S S Statistical Package for the Social Sciences Data Entry Data Management Basic Descriptive Statistics Jamie Lynn Marincic Leanne Hicks Survey, Statistics, and Psychometrics Core Facility (SSP) July

More information

6.4 Normal Distribution

6.4 Normal Distribution Contents 6.4 Normal Distribution....................... 381 6.4.1 Characteristics of the Normal Distribution....... 381 6.4.2 The Standardized Normal Distribution......... 385 6.4.3 Meaning of Areas under

More information

Northumberland Knowledge

Northumberland Knowledge Northumberland Knowledge Know Guide How to Analyse Data - November 2012 - This page has been left blank 2 About this guide The Know Guides are a suite of documents that provide useful information about

More information

Introduction to Quantitative Methods

Introduction to Quantitative Methods Introduction to Quantitative Methods October 15, 2009 Contents 1 Definition of Key Terms 2 2 Descriptive Statistics 3 2.1 Frequency Tables......................... 4 2.2 Measures of Central Tendencies.................

More information

Levels of measurement in psychological research:

Levels of measurement in psychological research: Research Skills: Levels of Measurement. Graham Hole, February 2011 Page 1 Levels of measurement in psychological research: Psychology is a science. As such it generally involves objective measurement of

More information

summarise a large amount of data into a single value; and indicate that there is some variability around this single value within the original data.

summarise a large amount of data into a single value; and indicate that there is some variability around this single value within the original data. Student Learning Development Using averages This guide explains the different types of average (mean, median and mode). It details their use, how to calculate them, and when they can be used most effectively.

More information

Introduction to Statistics for Psychology. Quantitative Methods for Human Sciences

Introduction to Statistics for Psychology. Quantitative Methods for Human Sciences Introduction to Statistics for Psychology and Quantitative Methods for Human Sciences Jonathan Marchini Course Information There is website devoted to the course at http://www.stats.ox.ac.uk/ marchini/phs.html

More information

Statistics I for QBIC. Contents and Objectives. Chapters 1 7. Revised: August 2013

Statistics I for QBIC. Contents and Objectives. Chapters 1 7. Revised: August 2013 Statistics I for QBIC Text Book: Biostatistics, 10 th edition, by Daniel & Cross Contents and Objectives Chapters 1 7 Revised: August 2013 Chapter 1: Nature of Statistics (sections 1.1-1.6) Objectives

More information

MBA 611 STATISTICS AND QUANTITATIVE METHODS

MBA 611 STATISTICS AND QUANTITATIVE METHODS MBA 611 STATISTICS AND QUANTITATIVE METHODS Part I. Review of Basic Statistics (Chapters 1-11) A. Introduction (Chapter 1) Uncertainty: Decisions are often based on incomplete information from uncertain

More information

Statistics Review PSY379

Statistics Review PSY379 Statistics Review PSY379 Basic concepts Measurement scales Populations vs. samples Continuous vs. discrete variable Independent vs. dependent variable Descriptive vs. inferential stats Common analyses

More information

MEASURES OF CENTER AND SPREAD MEASURES OF CENTER 11/20/2014. What is a measure of center? a value at the center or middle of a data set

MEASURES OF CENTER AND SPREAD MEASURES OF CENTER 11/20/2014. What is a measure of center? a value at the center or middle of a data set MEASURES OF CENTER AND SPREAD Mean and Median MEASURES OF CENTER What is a measure of center? a value at the center or middle of a data set Several different ways to determine the center: Mode Median Mean

More information

Lesson 4 Measures of Central Tendency

Lesson 4 Measures of Central Tendency Outline Measures of a distribution s shape -modality and skewness -the normal distribution Measures of central tendency -mean, median, and mode Skewness and Central Tendency Lesson 4 Measures of Central

More information

Chapter 1: Data and Statistics GBS221, Class 20640 January 28, 2013 Notes Compiled by Nicolas C. Rouse, Instructor, Phoenix College

Chapter 1: Data and Statistics GBS221, Class 20640 January 28, 2013 Notes Compiled by Nicolas C. Rouse, Instructor, Phoenix College Chapter Objectives 1. Obtain an appreciation for the breadth of statistical applications in business and economics. 2. Understand the meaning of the terms elements, variables, and observations as they

More information

4.1 Exploratory Analysis: Once the data is collected and entered, the first question is: "What do the data look like?"

4.1 Exploratory Analysis: Once the data is collected and entered, the first question is: What do the data look like? Data Analysis Plan The appropriate methods of data analysis are determined by your data types and variables of interest, the actual distribution of the variables, and the number of cases. Different analyses

More information

Now, observe again the 10 digits we use to represent numbers. 0 1 2 3 4 5 6 7 8 9 Notice that not only is each digit different from every other

Now, observe again the 10 digits we use to represent numbers. 0 1 2 3 4 5 6 7 8 9 Notice that not only is each digit different from every other VARIABLES- NOMINAL, ORDINAL and INTERVAL/SCALE LEVELS OF MEASUREMENT Variables: traits or characteristics that vary from one individual, group, or society to another individual, group, or society. Examples:

More information

STATS8: Introduction to Biostatistics. Data Exploration. Babak Shahbaba Department of Statistics, UCI

STATS8: Introduction to Biostatistics. Data Exploration. Babak Shahbaba Department of Statistics, UCI STATS8: Introduction to Biostatistics Data Exploration Babak Shahbaba Department of Statistics, UCI Introduction After clearly defining the scientific problem, selecting a set of representative members

More information

Correlation key concepts:

Correlation key concepts: CORRELATION Correlation key concepts: Types of correlation Methods of studying correlation a) Scatter diagram b) Karl pearson s coefficient of correlation c) Spearman s Rank correlation coefficient d)

More information

CHAPTER THREE. Key Concepts

CHAPTER THREE. Key Concepts CHAPTER THREE Key Concepts interval, ordinal, and nominal scale quantitative, qualitative continuous data, categorical or discrete data table, frequency distribution histogram, bar graph, frequency polygon,

More information

A Picture Really Is Worth a Thousand Words

A Picture Really Is Worth a Thousand Words 4 A Picture Really Is Worth a Thousand Words Difficulty Scale (pretty easy, but not a cinch) What you ll learn about in this chapter Why a picture is really worth a thousand words How to create a histogram

More information

Introduction; Descriptive & Univariate Statistics

Introduction; Descriptive & Univariate Statistics Introduction; Descriptive & Univariate Statistics I. KEY COCEPTS A. Population. Definitions:. The entire set of members in a group. EXAMPLES: All U.S. citizens; all otre Dame Students. 2. All values of

More information

Activity 4 Determining Mean and Median of a Frequency Distribution Table

Activity 4 Determining Mean and Median of a Frequency Distribution Table Activity 4 Determining Mean and Median of a Frequency Distribution Table Topic Area: Data Analysis and Probability NCTM Standard: Select and use appropriate statistical methods to analyze data. Objective:

More information

Chapter 2 Statistical Foundations: Descriptive Statistics

Chapter 2 Statistical Foundations: Descriptive Statistics Chapter 2 Statistical Foundations: Descriptive Statistics 20 Chapter 2 Statistical Foundations: Descriptive Statistics Presented in this chapter is a discussion of the types of data and the use of frequency

More information

Business Statistics: Intorduction

Business Statistics: Intorduction Business Statistics: Intorduction Donglei Du (ddu@unb.edu) Faculty of Business Administration, University of New Brunswick, NB Canada Fredericton E3B 9Y2 September 23, 2015 Donglei Du (UNB) AlgoTrading

More information

SOST 201 September 18-20, 2006. Measurement of Variables 2

SOST 201 September 18-20, 2006. Measurement of Variables 2 1 Social Studies 201 September 18-20, 2006 Measurement of variables See text, chapter 3, pp. 61-86. These notes and Chapter 3 of the text examine ways of measuring variables in order to describe members

More information

Intro to GIS Winter 2011. Data Visualization Part I

Intro to GIS Winter 2011. Data Visualization Part I Intro to GIS Winter 2011 Data Visualization Part I Cartographer Code of Ethics Always have a straightforward agenda and have a defining purpose or goal for each map Always strive to know your audience

More information

Foundation of Quantitative Data Analysis

Foundation of Quantitative Data Analysis Foundation of Quantitative Data Analysis Part 1: Data manipulation and descriptive statistics with SPSS/Excel HSRS #10 - October 17, 2013 Reference : A. Aczel, Complete Business Statistics. Chapters 1

More information

1) Write the following as an algebraic expression using x as the variable: Triple a number subtracted from the number

1) Write the following as an algebraic expression using x as the variable: Triple a number subtracted from the number 1) Write the following as an algebraic expression using x as the variable: Triple a number subtracted from the number A. 3(x - x) B. x 3 x C. 3x - x D. x - 3x 2) Write the following as an algebraic expression

More information

Midterm Review Problems

Midterm Review Problems Midterm Review Problems October 19, 2013 1. Consider the following research title: Cooperation among nursery school children under two types of instruction. In this study, what is the independent variable?

More information

Association Between Variables

Association Between Variables Contents 11 Association Between Variables 767 11.1 Introduction............................ 767 11.1.1 Measure of Association................. 768 11.1.2 Chapter Summary.................... 769 11.2 Chi

More information

Measurement & Data Analysis. On the importance of math & measurement. Steps Involved in Doing Scientific Research. Measurement

Measurement & Data Analysis. On the importance of math & measurement. Steps Involved in Doing Scientific Research. Measurement Measurement & Data Analysis Overview of Measurement. Variability & Measurement Error.. Descriptive vs. Inferential Statistics. Descriptive Statistics. Distributions. Standardized Scores. Graphing Data.

More information

Lean Six Sigma Analyze Phase Introduction. TECH 50800 QUALITY and PRODUCTIVITY in INDUSTRY and TECHNOLOGY

Lean Six Sigma Analyze Phase Introduction. TECH 50800 QUALITY and PRODUCTIVITY in INDUSTRY and TECHNOLOGY TECH 50800 QUALITY and PRODUCTIVITY in INDUSTRY and TECHNOLOGY Before we begin: Turn on the sound on your computer. There is audio to accompany this presentation. Audio will accompany most of the online

More information

Describing Data: Measures of Central Tendency and Dispersion

Describing Data: Measures of Central Tendency and Dispersion 100 Part 2 / Basic Tools of Research: Sampling, Measurement, Distributions, and Descriptive Statistics Chapter 8 Describing Data: Measures of Central Tendency and Dispersion In the previous chapter we

More information

DATA COLLECTION AND ANALYSIS

DATA COLLECTION AND ANALYSIS DATA COLLECTION AND ANALYSIS Quality Education for Minorities (QEM) Network HBCU-UP Fundamentals of Education Research Workshop Gerunda B. Hughes, Ph.D. August 23, 2013 Objectives of the Discussion 2 Discuss

More information

DESCRIPTIVE STATISTICS AND EXPLORATORY DATA ANALYSIS

DESCRIPTIVE STATISTICS AND EXPLORATORY DATA ANALYSIS DESCRIPTIVE STATISTICS AND EXPLORATORY DATA ANALYSIS SEEMA JAGGI Indian Agricultural Statistics Research Institute Library Avenue, New Delhi - 110 012 seema@iasri.res.in 1. Descriptive Statistics Statistics

More information

11. Analysis of Case-control Studies Logistic Regression

11. Analysis of Case-control Studies Logistic Regression Research methods II 113 11. Analysis of Case-control Studies Logistic Regression This chapter builds upon and further develops the concepts and strategies described in Ch.6 of Mother and Child Health:

More information

Def: The standard normal distribution is a normal probability distribution that has a mean of 0 and a standard deviation of 1.

Def: The standard normal distribution is a normal probability distribution that has a mean of 0 and a standard deviation of 1. Lecture 6: Chapter 6: Normal Probability Distributions A normal distribution is a continuous probability distribution for a random variable x. The graph of a normal distribution is called the normal curve.

More information

Probability and Statistics Vocabulary List (Definitions for Middle School Teachers)

Probability and Statistics Vocabulary List (Definitions for Middle School Teachers) Probability and Statistics Vocabulary List (Definitions for Middle School Teachers) B Bar graph a diagram representing the frequency distribution for nominal or discrete data. It consists of a sequence

More information

Guided Reading 9 th Edition. informed consent, protection from harm, deception, confidentiality, and anonymity.

Guided Reading 9 th Edition. informed consent, protection from harm, deception, confidentiality, and anonymity. Guided Reading Educational Research: Competencies for Analysis and Applications 9th Edition EDFS 635: Educational Research Chapter 1: Introduction to Educational Research 1. List and briefly describe the

More information

Credit Risk Models. August 24 26, 2010

Credit Risk Models. August 24 26, 2010 Credit Risk Models August 24 26, 2010 AGENDA 1 st Case Study : Credit Rating Model Borrowers and Factoring (Accounts Receivable Financing) pages 3 10 2 nd Case Study : Credit Scoring Model Automobile Leasing

More information

Gouvernement du Québec Ministère de l Éducation, 2004 04-00811 ISBN 2-550-43541-9

Gouvernement du Québec Ministère de l Éducation, 2004 04-00811 ISBN 2-550-43541-9 Gouvernement du Québec Ministère de l Éducation, 2004 04-00811 ISBN 2-550-43541-9 Legal deposit Bibliothèque nationale du Québec, 2004 1. INTRODUCTION This Definition of the Domain for Summative Evaluation

More information

Directions for Frequency Tables, Histograms, and Frequency Bar Charts

Directions for Frequency Tables, Histograms, and Frequency Bar Charts Directions for Frequency Tables, Histograms, and Frequency Bar Charts Frequency Distribution Quantitative Ungrouped Data Dataset: Frequency_Distributions_Graphs-Quantitative.sav 1. Open the dataset containing

More information

STAB22 section 1.1. total = 88(200/100) + 85(200/100) + 77(300/100) + 90(200/100) + 80(100/100) = 176 + 170 + 231 + 180 + 80 = 837,

STAB22 section 1.1. total = 88(200/100) + 85(200/100) + 77(300/100) + 90(200/100) + 80(100/100) = 176 + 170 + 231 + 180 + 80 = 837, STAB22 section 1.1 1.1 Find the student with ID 104, who is in row 5. For this student, Exam1 is 95, Exam2 is 98, and Final is 96, reading along the row. 1.2 This one involves a careful reading of the

More information

Examining Differences (Comparing Groups) using SPSS Inferential statistics (Part I) Dwayne Devonish

Examining Differences (Comparing Groups) using SPSS Inferential statistics (Part I) Dwayne Devonish Examining Differences (Comparing Groups) using SPSS Inferential statistics (Part I) Dwayne Devonish Statistics Statistics are quantitative methods of describing, analysing, and drawing inferences (conclusions)

More information

03 The full syllabus. 03 The full syllabus continued. For more information visit www.cimaglobal.com PAPER C03 FUNDAMENTALS OF BUSINESS MATHEMATICS

03 The full syllabus. 03 The full syllabus continued. For more information visit www.cimaglobal.com PAPER C03 FUNDAMENTALS OF BUSINESS MATHEMATICS 0 The full syllabus 0 The full syllabus continued PAPER C0 FUNDAMENTALS OF BUSINESS MATHEMATICS Syllabus overview This paper primarily deals with the tools and techniques to understand the mathematics

More information

MEASURES OF VARIATION

MEASURES OF VARIATION NORMAL DISTRIBTIONS MEASURES OF VARIATION In statistics, it is important to measure the spread of data. A simple way to measure spread is to find the range. But statisticians want to know if the data are

More information

DESCRIPTIVE STATISTICS - CHAPTERS 1 & 2 1

DESCRIPTIVE STATISTICS - CHAPTERS 1 & 2 1 DESCRIPTIVE STATISTICS - CHAPTERS 1 & 2 1 OVERVIEW STATISTICS PANIK...THE THEORY AND METHODS OF COLLECTING, ORGANIZING, PRESENTING, ANALYZING, AND INTERPRETING DATA SETS SO AS TO DETERMINE THEIR ESSENTIAL

More information

Lesson outline 1: Mean, median, mode

Lesson outline 1: Mean, median, mode 4. Give 5 different numbers such that their average is 21. The numbers are: I found these numbers by: 5. A median of a set of scores is the value in the middle when the scores are placed in order. In case

More information

Lecture 2: Descriptive Statistics and Exploratory Data Analysis

Lecture 2: Descriptive Statistics and Exploratory Data Analysis Lecture 2: Descriptive Statistics and Exploratory Data Analysis Further Thoughts on Experimental Design 16 Individuals (8 each from two populations) with replicates Pop 1 Pop 2 Randomly sample 4 individuals

More information

sample median Sample quartiles sample deciles sample quantiles sample percentiles Exercise 1 five number summary # Create and view a sorted

sample median Sample quartiles sample deciles sample quantiles sample percentiles Exercise 1 five number summary # Create and view a sorted Sample uartiles We have seen that the sample median of a data set {x 1, x, x,, x n }, sorted in increasing order, is a value that divides it in such a way, that exactly half (i.e., 50%) of the sample observations

More information

Measurement and Measurement Scales

Measurement and Measurement Scales Measurement and Measurement Scales Measurement is the foundation of any scientific investigation Everything we do begins with the measurement of whatever it is we want to study Definition: measurement

More information

AP Statistics Solutions to Packet 2

AP Statistics Solutions to Packet 2 AP Statistics Solutions to Packet 2 The Normal Distributions Density Curves and the Normal Distribution Standard Normal Calculations HW #9 1, 2, 4, 6-8 2.1 DENSITY CURVES (a) Sketch a density curve that

More information

Exploratory Spatial Data Analysis

Exploratory Spatial Data Analysis Exploratory Spatial Data Analysis Part II Dynamically Linked Views 1 Contents Introduction: why to use non-cartographic data displays Display linking by object highlighting Dynamic Query Object classification

More information

Module 5: Measuring (step 3) Inequality Measures

Module 5: Measuring (step 3) Inequality Measures Module 5: Measuring (step 3) Inequality Measures Topics 1. Why measure inequality? 2. Basic dispersion measures 1. Charting inequality for basic dispersion measures 2. Basic dispersion measures (dispersion

More information

CALCULATIONS & STATISTICS

CALCULATIONS & STATISTICS CALCULATIONS & STATISTICS CALCULATION OF SCORES Conversion of 1-5 scale to 0-100 scores When you look at your report, you will notice that the scores are reported on a 0-100 scale, even though respondents

More information

Pie Charts. proportion of ice-cream flavors sold annually by a given brand. AMS-5: Statistics. Cherry. Cherry. Blueberry. Blueberry. Apple.

Pie Charts. proportion of ice-cream flavors sold annually by a given brand. AMS-5: Statistics. Cherry. Cherry. Blueberry. Blueberry. Apple. Graphical Representations of Data, Mean, Median and Standard Deviation In this class we will consider graphical representations of the distribution of a set of data. The goal is to identify the range of

More information

Statistics Revision Sheet Question 6 of Paper 2

Statistics Revision Sheet Question 6 of Paper 2 Statistics Revision Sheet Question 6 of Paper The Statistics question is concerned mainly with the following terms. The Mean and the Median and are two ways of measuring the average. sumof values no. of

More information

Analyzing Quantitative Data Ellen Taylor-Powell

Analyzing Quantitative Data Ellen Taylor-Powell G3658-6 Program Development and Evaluation Analyzing Quantitative Data Ellen Taylor-Powell Statistical analysis can be quite involved. However, there are some common mathematical techniques that can make

More information

Chapter 3 RANDOM VARIATE GENERATION

Chapter 3 RANDOM VARIATE GENERATION Chapter 3 RANDOM VARIATE GENERATION In order to do a Monte Carlo simulation either by hand or by computer, techniques must be developed for generating values of random variables having known distributions.

More information

Descriptive statistics parameters: Measures of centrality

Descriptive statistics parameters: Measures of centrality Descriptive statistics parameters: Measures of centrality Contents Definitions... 3 Classification of descriptive statistics parameters... 4 More about central tendency estimators... 5 Relationship between

More information

MATH THAT MAKES ENTS

MATH THAT MAKES ENTS The Bureau of Labor statistics share this data to describe the difference in earnings and unemployment rates by the amount of education attained. (1) Take a look at this table, describe what you notice

More information

The right edge of the box is the third quartile, Q 3, which is the median of the data values above the median. Maximum Median

The right edge of the box is the third quartile, Q 3, which is the median of the data values above the median. Maximum Median CONDENSED LESSON 2.1 Box Plots In this lesson you will create and interpret box plots for sets of data use the interquartile range (IQR) to identify potential outliers and graph them on a modified box

More information

Survey Data Analysis. Qatar University. Dr. Kenneth M.Coleman (Ken.Coleman@marketstrategies.com) - University of Michigan

Survey Data Analysis. Qatar University. Dr. Kenneth M.Coleman (Ken.Coleman@marketstrategies.com) - University of Michigan The following slides are the property of their authors and are provided on this website as a public service. Please do not copy or redistribute these slides without the written permission of all of the

More information

Density Curve. A density curve is the graph of a continuous probability distribution. It must satisfy the following properties:

Density Curve. A density curve is the graph of a continuous probability distribution. It must satisfy the following properties: Density Curve A density curve is the graph of a continuous probability distribution. It must satisfy the following properties: 1. The total area under the curve must equal 1. 2. Every point on the curve

More information

Example: Find the expected value of the random variable X. X 2 4 6 7 P(X) 0.3 0.2 0.1 0.4

Example: Find the expected value of the random variable X. X 2 4 6 7 P(X) 0.3 0.2 0.1 0.4 MATH 110 Test Three Outline of Test Material EXPECTED VALUE (8.5) Super easy ones (when the PDF is already given to you as a table and all you need to do is multiply down the columns and add across) Example:

More information

Summarizing and Displaying Categorical Data

Summarizing and Displaying Categorical Data Summarizing and Displaying Categorical Data Categorical data can be summarized in a frequency distribution which counts the number of cases, or frequency, that fall into each category, or a relative frequency

More information

Clovis Community College Core Competencies Assessment 2014 2015 Area II: Mathematics Algebra

Clovis Community College Core Competencies Assessment 2014 2015 Area II: Mathematics Algebra Core Assessment 2014 2015 Area II: Mathematics Algebra Class: Math 110 College Algebra Faculty: Erin Akhtar (Learning Outcomes Being Measured) 1. Students will construct and analyze graphs and/or data

More information

Measurement. How are variables measured?

Measurement. How are variables measured? Measurement Y520 Strategies for Educational Inquiry Robert S Michael Measurement-1 How are variables measured? First, variables are defined by conceptual definitions (constructs) that explain the concept

More information

Descriptive Statistics

Descriptive Statistics Y520 Robert S Michael Goal: Learn to calculate indicators and construct graphs that summarize and describe a large quantity of values. Using the textbook readings and other resources listed on the web

More information

Quantitative Methods for Finance

Quantitative Methods for Finance Quantitative Methods for Finance Module 1: The Time Value of Money 1 Learning how to interpret interest rates as required rates of return, discount rates, or opportunity costs. 2 Learning how to explain

More information

The Dummy s Guide to Data Analysis Using SPSS

The Dummy s Guide to Data Analysis Using SPSS The Dummy s Guide to Data Analysis Using SPSS Mathematics 57 Scripps College Amy Gamble April, 2001 Amy Gamble 4/30/01 All Rights Rerserved TABLE OF CONTENTS PAGE Helpful Hints for All Tests...1 Tests

More information

Paper No 19. FINALTERM EXAMINATION Fall 2009 MTH302- Business Mathematics & Statistics (Session - 2) Ref No: Time: 120 min Marks: 80

Paper No 19. FINALTERM EXAMINATION Fall 2009 MTH302- Business Mathematics & Statistics (Session - 2) Ref No: Time: 120 min Marks: 80 Paper No 19 FINALTERM EXAMINATION Fall 2009 MTH302- Business Mathematics & Statistics (Session - 2) Ref No: Time: 120 min Marks: 80 Question No: 1 ( Marks: 1 ) - Please choose one Scatterplots are used

More information

There are three kinds of people in the world those who are good at math and those who are not. PSY 511: Advanced Statistics for Psychological and Behavioral Research 1 Positive Views The record of a month

More information

Grade 6 Mathematics Assessment. Eligible Texas Essential Knowledge and Skills

Grade 6 Mathematics Assessment. Eligible Texas Essential Knowledge and Skills Grade 6 Mathematics Assessment Eligible Texas Essential Knowledge and Skills STAAR Grade 6 Mathematics Assessment Mathematical Process Standards These student expectations will not be listed under a separate

More information

A power series about x = a is the series of the form

A power series about x = a is the series of the form POWER SERIES AND THE USES OF POWER SERIES Elizabeth Wood Now we are finally going to start working with a topic that uses all of the information from the previous topics. The topic that we are going to

More information

Information Theory and Coding Prof. S. N. Merchant Department of Electrical Engineering Indian Institute of Technology, Bombay

Information Theory and Coding Prof. S. N. Merchant Department of Electrical Engineering Indian Institute of Technology, Bombay Information Theory and Coding Prof. S. N. Merchant Department of Electrical Engineering Indian Institute of Technology, Bombay Lecture - 17 Shannon-Fano-Elias Coding and Introduction to Arithmetic Coding

More information

Algebra 1 2008. Academic Content Standards Grade Eight and Grade Nine Ohio. Grade Eight. Number, Number Sense and Operations Standard

Algebra 1 2008. Academic Content Standards Grade Eight and Grade Nine Ohio. Grade Eight. Number, Number Sense and Operations Standard Academic Content Standards Grade Eight and Grade Nine Ohio Algebra 1 2008 Grade Eight STANDARDS Number, Number Sense and Operations Standard Number and Number Systems 1. Use scientific notation to express

More information

Measurement with Ratios

Measurement with Ratios Grade 6 Mathematics, Quarter 2, Unit 2.1 Measurement with Ratios Overview Number of instructional days: 15 (1 day = 45 minutes) Content to be learned Use ratio reasoning to solve real-world and mathematical

More information

Point and Interval Estimates

Point and Interval Estimates Point and Interval Estimates Suppose we want to estimate a parameter, such as p or µ, based on a finite sample of data. There are two main methods: 1. Point estimate: Summarize the sample by a single number

More information

KEANSBURG SCHOOL DISTRICT KEANSBURG HIGH SCHOOL Mathematics Department. HSPA 10 Curriculum. September 2007

KEANSBURG SCHOOL DISTRICT KEANSBURG HIGH SCHOOL Mathematics Department. HSPA 10 Curriculum. September 2007 KEANSBURG HIGH SCHOOL Mathematics Department HSPA 10 Curriculum September 2007 Written by: Karen Egan Mathematics Supervisor: Ann Gagliardi 7 days Sample and Display Data (Chapter 1 pp. 4-47) Surveys and

More information

Chapter 2: Frequency Distributions and Graphs

Chapter 2: Frequency Distributions and Graphs Chapter 2: Frequency Distributions and Graphs Learning Objectives Upon completion of Chapter 2, you will be able to: Organize the data into a table or chart (called a frequency distribution) Construct

More information

Statistics Chapter 2

Statistics Chapter 2 Statistics Chapter 2 Frequency Tables A frequency table organizes quantitative data. partitions data into classes (intervals). shows how many data values are in each class. Test Score Number of Students

More information

SECTION 2-1: OVERVIEW SECTION 2-2: FREQUENCY DISTRIBUTIONS

SECTION 2-1: OVERVIEW SECTION 2-2: FREQUENCY DISTRIBUTIONS SECTION 2-1: OVERVIEW Chapter 2 Describing, Exploring and Comparing Data 19 In this chapter, we will use the capabilities of Excel to help us look more carefully at sets of data. We can do this by re-organizing

More information

Bachelor's Degree in Business Administration and Master's Degree course description

Bachelor's Degree in Business Administration and Master's Degree course description Bachelor's Degree in Business Administration and Master's Degree course description Bachelor's Degree in Business Administration Department s Compulsory Requirements Course Description (402102) Principles

More information

How To: Analyse & Present Data

How To: Analyse & Present Data INTRODUCTION The aim of this How To guide is to provide advice on how to analyse your data and how to present it. If you require any help with your data analysis please discuss with your divisional Clinical

More information