ECON 2B03 Lecture Notes - Lecture 6: Royal Institute Of Technology, Normal Distribution, Standard Deviation

• School: McMaster University
• Department: Economics
• Course: ECON 2B03
• Professor: Jeff Racine

Document Summary

Chebyshev"s theorem is an empirical rule that applies to all distributions, not only the. Regardless of the shape of a population"s frequency distribution, the proportion of observations falling within k standard deviations of the mean is at least (given that k equals 1 or more); Proportion falling within k of 1 1 k2. At least 75% of all observations lie within k= 2 standard deviations of the mean. Used to compare degrees of dispersion among data sets. Ratio of the standard deviation to the arithmetic mean. Data can originate in a number of ways. Created by entities other than the person, firm, or government that wants to use the data. In the past, users were limited to print data (e. g. , print and cdrom) The internet is an exceptionally efficient source for data. A census is a complete survey of every member in the population.