OIS 2340 Lecture Notes - Lecture 4: Weighted Arithmetic Mean, Quartile, Skewness
Document Summary
Identify distibutions that are skewed and what this means for the mean and the median. Interpret and calculate measures of location on excel. When the median and mean are not equal, the data is skewed. The mean will pull the distribution one way or the other. When the mean is smaller than the median, it is skewed left. When the mean is larger than the median, it is skewed right. When it is equal, the data is not skewed. When data values vary in importance, we can calculate a weighted mean. Weights are assigned to data values to reflect their importance. Hint: whatever you want the average of is your x. Describing what is happening in locations other than the mean, we can use. Describing what is happening in locations other than the mean, we can use percentiles and or quartiles. The pth percentile has at least p% of the data at or below it.