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BUSI 1450U (14)
Lecture

Statistics BUSI 1450U lecture 5

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School
Department
Business
Course
BUSI 1450U
Professor
William Goodman
Semester
Winter

Description
Statistics Lecture 5Summarizing data without showing the full distribution in a table or graph y Advantages o Easier to compare different data sets o Easier to communicate about the data y Types of summary measures o Measures of Location or Central tendency o Measures of Variation or Spread and ShapeMeasures of Location y Central Location o Mean arithmetic weighted and geometric o Median o Mode y Additional Locations o Quantiles o Quartiles o PercentilesArithmetic Mean y Refers to what we generally call average y Takes all the data values into account and mathematically balances everything y For a sample y Xthe variable for which we have a set of data values y nthe number of data values in the sample y Xs
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