Probability and Statistics 2 Flashcards
Indicate the extent which the data differs from each other
Dispersion measures
Definition of dispersion measures
Indicate the extent which the data differs from each other
Most relevant central trend measures
Arithmetic mean, median and mode
Considered the most important central trend measurement for quantitative variables
Arithmetic mean
Fundamental central trend measure for qualitative measures or when we are interested in the majority
Mode
Central trend measures important for ordinal qualitative variables and in certain special quantitative variables
Median
Value of the variable that has the highest frequency; that is, the value that is most repeated in the population or sample.
Mode
Symbol for mode in a sample
x^ (on top of each other)
x^ (on top of each other) meaning
Mode in a sample
Mode
Value of the variable that has the highest frequency; that is, the value that is most repeated in the population or sample.
Most commonly used central trend measure
Arithmetic mean
Also known as average
Arithmetic mean
Other name for arithmetic mean
Average
Definition of arithmetic mean
Sum of the values of all observations divided by the total number of observations
Sum of the values of all observations divided by the total number of observations
Arithmetic mean