DescribingDataUsingNumericalMeasures文件材料.ppt

Business Statistics: A Decision-Making Approach 6th Edition;After completing this chapter, you should be able to: Compute and interpret the mean, median, and mode for a set of data Compute the range, variance, and standard deviation and know what these values mean Construct and interpret a box and whiskers plot Compute and explain the coefficient of variation and z scores Use numerical measures along with graphs, charts, and tables to describe data;Mean (Arithmetic Average);Mean (Arithmetic Average);Median;Mode;Weighted Mean;Five houses on a hill by the beach;Summary Statistics;Percentiles;Quartiles;Box and Whisker Plot;Shape of Box and Whisker Plots;Distribution Shape and Box and Whisker Plot;Box-and-Whisker Plot Example;Measures of Variation;Measures of variation give information on the spread or variability of the data values.;Range;Ignores the way in which data are distributed Sensitive to outliers ;Interquartile Range;Interquartile Range;Average of squared deviations of values from the mean Sample variance: Population variance:;Standard Deviation;Calculation Example:Sample Standard Deviation;Comparing Standard Deviations;Coefficient of Variation;Comparing Coefficient of Variation;If the data distribution is bell-shaped, then the interval: contains about 68% of the values in the population or the sample; contains about 95% of the values in the population or the sample contains about 99.7% of the values in the population or the sample;Regardless of how the data are distributed, at least (1 - 1/k2) of the values will fall within k standard deviations of the mean Examples: (1 - 1/12) = 0% ……..... k=1 (μ ± 1σ) (1 - 1/22) = 75% …........ k=2 (μ ± 2σ) (1 - 1/32) = 89% ………. k=3 (μ ± 3σ);A standardized data value refers to the number of standard deviations a value is from the mean Standardized data values are sometimes referred to as z-scores;where: x = original data value μ = population mean σ = population standard deviation z