Chapter 4 Extra

Question 1

How are standard deviation and variance related

Answer 1

If you have a large standard deviation your have high variance. If you have a low standard deviation you have a low variance

Question 2

What is s hat v S?

Answer 2

S hat is when you are estimating a population’s variability. S is just a measure of a sample’s variability.

Question 3

If you are guessing whether to use mean, median, or mode…what would you use for income distribution?

Answer 3

Although the income distribution is technically a ratio, income distribution is often skewed and therefore it would be better to use the median/mode.

Question 4

Standard deviation is affected by….

While the mean is affected by….

Answer 4

Standard deviation is affected by the size of the differences of the numbers.
While mean is affected by the size of the numbers