International Business QNM222 Chapter Notes - Chapter 4: Percentile, Quartile, Interquartile Range
12 Mar 2014
School
Department
Professor
Document Summary
Mean: the average of a group of numbers . A sample of 10 students from your business class was asked how many hours they spent last week to study business statistics from ch1 to ch3. 15min, 5h, 3h, 6h, 5h 30min, 7h, 3h 30min, 6h, 4h 30min. Median: the middle value in an ordered array of numbers . Mode: the observations that occurs with the greatest frequency . In general, mean is the first, median is the second, mode is the third and last. In case of a data has extremely small or large value: Example 4. 1. 8: 11, 12, 13, 15, 16, 18, 19, 11, 12, 13, 15, 16, 18, 190. Homework (p. 106): 4. 1 4. 6 and 4. 9 4. 11. Range: = largest observation smallest observation (simplest measure of variability) Percentile (p ) : divide a group of data into 100 parts : location:
