NUMERICAL MEASURES MULTIPLE CHOICE QUESTIONS In the following multiple choice questions‚ circle the correct answer. 1. Which of the following provides a measure of central location for the data? a. standard deviation b. mean c. variance d. range Answer: b 2. A numerical value used as a summary measure for a sample‚ such as sample mean‚ is known as a a. population parameter b. sample parameter c. sample statistic d. population mean
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A. What is the mean age of this sample? What is the standard deviation? The mean age is 47.5 years old. The standard deviation is 10.74832 years. http://www.calculator.net/standard-deviation-calculator.html Sample Standard Deviation‚ s: 10.748316881702 Sample Standard Variance‚ s2 115.52631578947 Total Numbers‚ N 20 Sum: 950 Mean (Average): 47.5 Population Standard Deviation‚ σ 10.476163419878 Population Standard Variance‚ σ2 109.75 If it follows the normal distribution The
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population standard deviation σ of a discrete random variable ‚ Measure how close a random variable tends to be the population mean μ‚ so you must understand μ before you understand σ If you have a random variable like a bet at a casino or and investment then the standard deviation σ measure the risk‚ if there is a lot of risk then the standard deviation is high The formulas for standard deviation are given below but you should look at the examples first Population mean Population variance method
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Standard Deviation Abstract QRB/501 Standard Deviation Abstract Standard Deviations Are Not Perverse Purpose: The purpose of this article is to illustrate how using statistical data‚ such as standard deviation‚ can help a cattleman choose the best lot of calf’s at auction. The statistical data used in these decision making processes can also help the cattleman with future analysis of the lots purchased and existing stock. Research Question: How can understanding the standard deviation
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References: Anderson‚ D.R.‚ Sweeney‚ D. J.‚ & Williams‚ T. A. (2003). Essentials of Statistics for Business and Economics (3rd ed.). Mason‚ OH: South-Western. Becker‚ W. S. & Wellins‚ R. S. (1990‚ March). Customer-Service Perceptions and Reality. Training and Development Journal‚ 44(3)‚ 49. Retrieved August 1‚ 2011‚ from ABI/INFORM Global. (Document
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Mean and Standard Deviation The mean‚ indicated by μ (a lower case Greek mu)‚ is the statistician ’s jargon for the average value of a signal. It is found just as you would expect: add all of the samples together‚ and divide by N. It looks like this in mathematical form: In words‚ sum the values in the signal‚ xi‚ by letting the index‚ i‚ run from 0 to N-1. Then finish the calculation by dividing the sum by N. This is identical to the equation: μ =(x0 + x1 + x2 + ... + xN-1)/N. If you are not
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Standard deviation is the square root of the variance (Gravetter & Wallnau‚ 2013). It uses the mean of the distribution as a reference point and measures variability by considering the distance of each score from the mean. It is important to know the standard deviation for a given sample because it gives a measure of the standard‚ or average‚ range from the mean‚ and specifies if the scores are grouped closely around the mean or are widely scattered (Gravetter & Wallnau‚ 2013). The standard deviation
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the actuarial field and finds the average salary to be $41‚000. The population standard deviation is $3000. Can her claim be supported at 0.05? x¯=14.7‚ μx¯=13.77‚ ox¯=5.34‚ n=29‚ α=.01 3. Monthly Home Rent. The average monthly rent for a one bedroom in San Francisco is $ 1229. A random sample of 15 one bedroom homes about 15 miles outside of San Francisco had a mean rent of $1350. The population standard deviation is $250. At a=0.05 can we conclude that the monthly rent outside San Francisco
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A business graduate very much wants to get a job in any one of the top 10 accounting firms. Applying to any of these companies requires a lot of effort and paperwork and is therefore costly. She estimates the cost of applying to each of the 10 companies and the probability of getting a job offer there. These data are tabulated below. The tabulation is in the decreasing order of cost. 1. If the graduate applies to all 10 companies‚ what is the probability that she will get at least one offer
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The Real World Problem Noise pollution is a serious problem‚ as defined is unwanted or excessive sound that can have deterious effects on human health and environmental quality‚ whilst also disrupting the balance of life. The real world problem depicted in the image in particular from Noise pollution is aircraft noise‚ which is a result of air traffic‚ for the residents of suburbs neighboring airports it imposes a great cost. It can result in stress‚ damage to hearing‚ noise insulation‚ rise
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