CH2NUMERICAL SUMMARY STATISTICS-商务统计,英文版幻灯片.pptVIP

Business StatisticsBEO 1106;NUMERICAL SUMMARY MEASURES ; Properties of the mean: ; How to find the median ‘manually’? Sort the data from smallest to largest. Choose the middle value if n (N) is odd, or take the average of the two middle values if n (N) is even.;2. MEASURES OF VARIABILITY (DISPERSION); Properties of the variance: ; The range, the variance and the standard deviation are all ‘useless’ for comparing the dispersions of data sets that are measured in different units (e.g. kg and cm), or have markedly different magnitudes.; Percentile: the p th percentile separates the lower p% of the observations from the upper (100-p)%.; Locating Percentiles: the following formula allows us to approximate the location of any percentile, Lp is the location of the P th percentile:; Inter-quartile range: IQR = Q3 – Q1 i.e. the range of the middle 50% of the data.;3. DESCRIBING THE SHAPE OF A DATA SET;A Bell shaped Symmetrical Histogram Zero skewness;Positively (or right) skewed; Compare the mean to the median. Three possibilities: mean = median ? symmetrical mean median ? skewed to the left mean median ? skewed to the right; ; ;Ex 4: We consider the price to earnings ratio and the dividend yield for 20 listed shares. The data was downloaded from Selvanathan Case 3.1 and summarised using MS Excel. We get the following results: ;Ex 4 Continued:;The (Q1–1.5×IQR ; Q3+1.5×IQR) interval for the P/E ratio is calculated as follows using MS Excel: ;EMPIRICAL RULE