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ch03 ARK1
ch03 ARK1
ch03 ARK1
NUMERICAL
DESCRIPTIVE
MEASURES
Mean
Median
Mode
Relationships among the Mean, Median,
and Mode
x
x
1368
228 $228 Billion
n 6
x 362
45.25 years
N 8
7 8 9 10 11 12 13 13 14 17 17 45
12 13 25
Median 12.5 $12.5 billion
2 2
Thus,
the median profit of these 12
companies is $12.5 billion.
Definition
The mode is the value that occurs with the
highest frequency in a data set.
Range
Variance and Standard Deviation
Population Parameters and Sample
Statistics
x
2
N
x 2
n
2 and s 2
N n 1
where σ² is the population variance and s² is the
sample variance.
x
2
(662)2
x 2
n
114,600
5 114,600 87,648.80
s2 6737.80
n 1 5 1 4
s 6737.80 82.0841 $82.08 billion
x
2
2
(449.30)
x 2
N
35,978.51
6
2 388.90
N 6
388.90 $19.721 thousand $19,721
mf
535
21.40 minutes
N 25
x
mf
832
16.64 orders
n 50
m f
2
N
m 2
f
n
2 and s 2
N n 1
( mf ) 2 (535) 2
f
m 2
N
14,825
25 3376
2 135.04
N 25 25
m 2
f
( mf ) 2
14,216
(832 ) 2
s2 n 50 7.5820
n 1 50 1
b)
IQR = Interquartile range = Q3 – Q1
= 15.5 – 9.5
= $6 billion
24 28 33 33 37 39 47 51 59
28 33 47 51
Q1
2
Q2 37 Q3
2
30.5 49
b)
IQR = Interquartile range = Q3 – Q1
= 49 – 30.5
= 18.5 years
kn
Pk Value of the th term in a ranked data set
100
7 8 9 10 11 12 13 13 14 17 17 45
The position of the 42nd percentile is
kn (42)(12)
5.04 th term
100 100
Smallest value = 69
Highest value = 113
Median or Q = (84 + 90) / 2 = 87
2
Q1 = (75 + 79) / 2 = 77
Q3 = (98 + 104) / 2 = 101