MGMT 4B Lecture Notes - Lecture 2: Weighted Arithmetic Mean, Statistic, Interquartile Range
20 Apr 2016
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Document Summary
Sample statistics - measures computed for data from a sample. Population parameters - measures computed for data from population. Point estimator - sample statistic o o o o o o o o o o. Useful when a data set has extreme values. Trimmed mean - deleting a percentage of the smallest and largest values from a data set and then computing the mean of the remaining values. Used to analyze growth rates, population levels, etc. Provides info about how the data are spread over the interval from smallest to largest value. If i is an integer, find the average of i and i+1. If i is not an integer, round up.
