Measures Of Central Tendency: Mean Medium Mode Mode instead of mean… Categorical variables‚ words not numbers Measures of Dispersion: Standard Deviation‚ Range‚ and Variables Range = Largest number minus smallest number SD = Average Distance from the Mean (Most frequently used) Variance: Fat & Skinny Distributions: Skewness – measure of the lack of symmetry‚ or the lopsidedness of a distribution. One “tail” of the distribution is longer than another. Kurtosis: has to do
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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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Week Five Discussion | This Discussion will give you the opportunity to calculate or identify the three measures of central tendency. You will be asked to select an appropriate real life situation in which one measure would be more appropriate than the other two measures of center. 1. Select a topic of interest to you and record the topic in your posting‚ for example: “What is the average number of hours people watch TV every week?” Make sure the question you ask will be answered with a number
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Answer the following problems showing your work and explaining (or analyzing) your results. 1. Describe the measures of central tendency. Under what condition(s) should each one be used? Mean- Works good when it comes to test scores Median- should be used when describing something like average income. Mode= is good is you want to see what is you best seeing product in a store situation. 2. Last year‚ 12 employees from a computer company retired. Their ages at retirement are listed below.First‚
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In 1881‚ Chicago White Stockings owner Albert Spalding said “Salaries must come down or the interest of the public must be increased in some way. If one or the other does not happen‚ bankruptcy stares every team in the face" (Baseball Quotes SI). This obviously did not happen and teams are still flourishing‚ but even in 1881 when the top salary was $1‚500 individuals were complaining about players’ salaries. We’ve all heard complaints and stories of the outrageous amounts of money professional athletes
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ON “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
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completion in Major League Baseball has been greatly imbalanced since the strike shortened season of 1994. Competitive balance should exist when there are no clubs chronically weak because of Major League Baseball’s structural features. Proper competitive balance will not exist until every well-run club has a regularly recurring reasonable hope of reaching postseason play which is parity. One of the primary reasons for the competitive imbalance that does occur in Major League Baseball is difference in how
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be 8.3%. I find error in this calculation as a result of the following points of disagreement: a) Weighting of Capital Structure: Use of book values of capital rather than the market values b) Cost of Debt Calculation: Incorrect method for calculating debt c) Tax Rate: Use of a tax rate derived from the summation of state and statutory taxes instead of the firm’s marginal tax rate 2. Revised Calculation of WACC: WACC reflects the weighted average cost of the various sources of invested
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One of the great discoveries made by Dr. Montessori was that all humans have certain tendencies or behavior patterns. No matter where we live‚ no matter our culture or ethnicity‚ we all follow the same natural laws that lead us to act or react in a specific manner. We are all driven to: Communicate Socialize Imitate Explore (we are curious) Move Be exact/precise Concentrate Repeat Maintain/discover order Achieve independence Realize perfection/Control errors/Improve ourselves Control
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Human tendencies Every human‚ regardless of culture‚ place or time of birth‚ exhibits several tendencies. Guided by these tendencies at each stage of development‚ human seeks out the experiences in their environment that will best serve his development. Human being try to create order‚ to find meaning‚ to explore environments‚ to communicate with people around him‚ to pursue activities that are meaningful to become precise in his movements and in his thinking‚ and to work towards self-perfection
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