ECON10005 Lecture Notes - Lecture 4: Scatter Plot

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The p-th percentile below the median is a value for which at most p% of the observations are less than that value. The p-th percentile above the median is a value for which at most (100 - p)% of the observations are greater than that value. Q1 greater than 25% and less than 75% Q3 greater than 75% and less than 25% Computing median, q1 or q3 both methods are valid (must state which one) Computing any other, use the approximate location formula. Describes degree to which two variables are related. Sum of the products of the deviations away from the mean divided by (n-1) Small observations of x tend to be associated with small observations of y. Big observations of x tend to be associated with big observations of y. Small observations of x tend to be associated with big observations of y. Big observations of x tend to be associated with small observations of y.

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