STA 2014C Lecture Notes - Lecture 8: Data Set, Standard Deviation
Document Summary
Three di erent calculations to describe the variability or speed of a data set: range: highest minus the lowest. Gini coe cient: gives ratio to represent the income disbursement. Elasticity: measurement of how responsive a variable is to another. Data set equals the maximum or largest data value minus the minimum or smallest data value: overall range of data set is the same s the rst since the max and min value are spread. Measures of spread: variance: measures how di erent the data values are from each other includes every data value in the calculation one for population and one for sample. = 8. 75 / 3 = 2. 92 units ^2 < variance. = sqrt 2. 92 = 1. 71 < standard deviation.
