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Midterm

ECON 2740 Study Guide - Midterm Guide: Kurtosis, Quartile, Random Variable


Department
Economics
Course Code
ECON 2740
Professor
David Prescott
Study Guide
Midterm

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Random Discrete Variable- the random variable can taken any of a finite number of different
values (for example, a six sided die)
Random Continuous Variable- the random variable can take any of an infinite number of
numerical values
Variance- the average squared deviation of from its mean

·
Standard Deviation- the average deviation of from its mean (also the squared variance)


σ
Coefficient Variation - a unit free measure that can be used to compare to things


(second quartile) is also the median-
The position of the first quartile is found using the first equation, and the vale by the
second equation
-
 1 4
 0.75 0.25
The position of the third quartile
is found usingthe first equation, and the vale by the
second equation
-
1
·34
 0.250.75
Sample Quartiles- quartiles divide data into for equal parts, or quartiles
Sample Median- the value that lies in the middle of the data set, and the position can be found
using the first equation, and the value using the second equation
  1
2
0.5
0.5
Key Equations and Concepts
December7,2013 2:38PM
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