Sampling and Measures of Central Tendency and Dispersion Introduction: Overall Job Satisfaction (OJS) was the variable selected for this exercise because it lends itself to measures of central tendency and dispersion. The data are quantitative and continuous in nature. Data Selected: The instructions for the exercise suggested a sample of approximately 30 individuals from one of eight variables. There were 288 measures of OJS. Every ninth individual was selected resulting in thirty-two
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Assignment on Central Tendency and Dispersion 1. A manufacturer of hand shovels is deciding what length handles to use. Studies of user preference reveal that the average‚ the median‚ mean and mode of preferred length are all different. What are the implications of using each of these values? Which value would you decide? 2. A given machine is assumed to depreciate 40 percent in value in the first year‚ 25 percent in value in the 2nd year and 10 percent in value in the next three years; each
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Measures of Central Tendency Objectives of the chapter • To use summary statistics to describe collections of data • The main goal is to come up with the one single number that best describes a distribution of scores. • Lets us know if the distribution of scores tends to be composed of high scores or low scores. • To use the mean‚ median and mode to describe how data bunch up. The sales of 100 fast food shop is given below: Sales No. of (in 000s) Shops 700-799 4 800-899 7 900-999 8 1000-1099 10
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Measures of Central Tendency 1. What Do You Mean by Mean? a) The mean of the salaries is calculated by adding up each individual salary and dividing it by the seven employees. The mean of the seven salaries is $43‚814.29. The mean compares to the individual salaries because it shows the average of all the salaries together. The employees would use the average to negotiate with Dick for a higher salary‚ because by looking at the average you can see that Dick’s salary is an outlier compared to
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Module on Measures of Central Tendency Measures of Central Tendency There are many ways of describing of a given set of data. A good number of descriptive measures exist in statistics whose use depends largely on the nature of data and the intended purpose of the description. This measure is the measures of position or central tendency‚ it is use to see how a large set of raw materials can be summarized so that the meaningful essential can be extracted from it. The most commonly measures of central
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“Use of Central Tendency and Dispersion in Business Decision” Course Title: Business Statistics Course Code: STS201 Submitted To: Mr. Raihanul Hasan Senior Lecturer Submitted By: Date of submission: 26-12-12 BBA PROGRAM STATE UNIVERSITY OF BANGLADESH We can use single numbers called “Summary Statistics’ to describe characteristics of a data set. Two of these characteristics are particularly important to decision makers: 1. Central tendency 2. Dispersion Measures
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Central Tendency and Measures of Variation Task 1: 1.1 a.) Define Population: Population is a complete group or collection of items or people selected to be used for a statistical study b.) Define Sample: Sample is a partial selection or part of the population for which the study uses for information gathering. 1.7 The Neilson study is an inferential study; the results contained on the study are not focused and generalized. The population is not defined and therefore inferences are needed
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3.1 Measures of Central Tendency (Page 1 of 16) 3.1 Measures of Central Tendency Mean‚ Median and Mode a. mean‚ x = Example 1 b. ! x = sum of the entries n number of entries Find the mean of 26‚ 18‚ 12‚ 31‚ 42 The median is the middle value of an ordered set of data. If there is an even number of data values‚ then the median is the mean of the two middle values. Example 2 Find the median of 25‚ 30‚ 37‚ 21‚ 38 Example 3 Find the median of 3‚ 7‚ 9‚ 4‚ 8‚ 2‚ 6‚ 5 c. The mode is the
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spertion MEASURES OF DISPERSION I. Meaning and Types of Measures of Dispersion Measures of Dispersion ( Variation or Spread ) - is a measure used to describe the variation of a set of data |Measure of Dispersion |Symbol for | | |Parameter |Sample | |A. ABSOLUTE DISPERSION | | | |Range
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2013-15 Measures of Dispersion – Comparison of Cargo shipped via Airline Vs Rail Sector for last five years In statistics‚ dispersion (also called variability‚ scatter‚ or spread) denotes how stretched or squeezed is a distribution (theoretical or that underlying a statistical sample). Common examples of measures of statistical dispersion are the variance‚ standard deviation and interquartile rang.. Dispersion is contrasted with location or central tendency‚ and together they
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