ECON 221 Lecture Notes - Lecture 5: Standard Deviation

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If you have a sample for example 2, 5, 12, 13, 20, 33, 37. The standard deviation: the mean formula is = 1/n * (x) 2) the variance formula is = 1/(n-1)* ( x^2) - (n * ^2) For this case: 1/7-1 * (2^2+ 5^2+ 12^2 + 13^2+ 20^2+ 33^2+ 37^2) - [7* (17. 43)^2] 3) the standard deviation formula is the same as the variance one, except that you put a. = 178. 894 square root on the whole formula = 1/(n-1)* ( x^2) - (n * ^2) If have a sample group data, for example. The standard deviation: the mean formula is = 1/n * ( fi*mi) To calculate the mi, you do the average, for example 4. 00 - 7. 99 = (4+8)/2 = 6. For this table case = 1/16 * (2*2) + (5*6) + (9*10: for the variance formula: = 1/(n-1) [ fi* (mi)^2] - [n* ()^2]

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