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Managerial and Statistical Questions: Virtually All of The Statistics Cited Here Are Gleaned From Studies or Surveys
Managerial and Statistical Questions: Virtually All of The Statistics Cited Here Are Gleaned From Studies or Surveys
STATISTICAL
QUESTIONS
15 17 16 15 16 17 18 15 14 15
16 16 17 16 15 15 17 14 15 16
16 17 14 15 12 15 16 14 14 16
15 13 16 17 17 15 16 16 16 14
17 16 17 14 16 13 16 15 16 15
SOLUTION- Minimum Number- 12
Maximum Number- 18
Arrange the data in Ascending Order:-
12 13 13 14 14 14 14 14 14 14
15 15 15 15 15 15 15 15 15 15
15 15 15 16 16 16 16 16 16 16
16 16 16 16 16 16 16 16 16 16
17 17 17 17 17 17 17 17 17 18
CALCULATION OF MEDIAN:-
Me= {n/2}th + {n+1/2} = n = 50/2 = 25th item = 16+16/2= 16
MEDIAN = 16
CALCULATION OF QUARTILE 1:-
Q1= {n+1/4} = {50+1} = 12.75 = 12th item + 3/4(13th-12th)
15 + 3/4(15-15) = 15
QUARTILE 1 = 15
CALCULATION OF QUARTILE 3:-
Q3= 3{n+1/4} = 12.75*3 = 38.25th = 38th + 1/4(39-38)
16 + 1/4 (1) = 16
QUARTILE 3 = 16
TOPICS COVERED UNDER THIS CASE
● Median
● Q1
● Q3
● Standard Deviation
● Range
MEDIAN
● Median is the central value of the variable that divide the series into two equal parts
in such a way that half of the items lie above the value and the remaining half lie
below this value. Median is defined as the value of the middle item (or the mean of
the values of the two middle items) when the data are arranged in an ascending or
descending order of magnitude.
• The first quartile (Q1) : - it is known as a lower quartile, is the value of a variate below which there are
25% of the observation and above which there are 75 % of the observations.
• The Third quartile (Q3) : - it is known as an upper quartile, is the value f a variate below which there
are 75% of the observations and above which there are 25 % of the observations.
Q1 = Size of N + 1 th item
4
Q3 = Size of 3(N + 1)th item
4
STANDARD DEVIATION
● While calculating SD we take deviations of individual observations from
their AM and then each squares. The sum of the squares is divided by the
Total number of observations. The square root of this sum is knows as
standard deviation.
● Standard Deviation is the positive square root of the average of squared
deviation taken from arithmetic mean.
● The standard deviation is represented by the Greek letter a (sigma).
RANGE
● In statistics, the range of a set of data is the difference between the largest and
smallest values.
● Difference here is specific, the range of a set of data is the result of subtracting the
sample maximum and minimum.