QMS 102 Lecture Notes - Weighted Arithmetic Mean, Central Tendency, Data Set

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Outcomes: differentiate between the mean, the median, and the mode of data, state the advantages and disadvantages of the three measures. The mean: the arithmetic mean sample mean x (cid:229)= population mean, the weighted mean (cid:229)=m (cid:229)= x x x n. N wx w where m = the population mean; x = the observed values; x = the sample mean; =n the number of observations in the sample; Note: the symbol (cid:229) read sigma and denotes the summation of values. =f (cid:229) the total number of observations in the data set; fm = the sum of the weighted values of the class midpoints. Position number of median in an array = The annual incomes of a sample of middle-management employees at ryerson. There are 11 salespeople employed by midtown inc. The numbers of new cars sold last month by the respective salespeople were:

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