In the year 2000, the average salaries of elementary school teachers in Oregon, Washington and Alaska were (in thousands USD) 40.9, 41.1 and 47.3. Given.

Slides:



Advertisements
Similar presentations
1 1 Slide © 2011 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole.
Advertisements

1 1 Slide © 2012 Cengage Learning. All Rights Reserved. May not be scanned, copied or duplicated, or posted to a publicly accessible website, in whole.
Chapter 3 Describing Data Using Numerical Measures
Slides by JOHN LOUCKS St. Edward’s University.
Fall 2006 – Fundamentals of Business Statistics 1 Chapter 3 Describing Data Using Numerical Measures.
Chapter 11 Data Descriptions and Probability Distributions
Describing Data: Numerical Measures
Describing Data Measures of Location Goals
©The McGraw-Hill Companies, Inc. 2008McGraw-Hill/Irwin Describing Data: Numerical Measures Chapter 3.
1 Copyright © 2015 The McGraw-Hill Companies, Inc. Permission required for reproduction or display. C H A P T E R T H R E E DATA DESCRIPTION.
Chapter 3 Data Description 1 Copyright © 2012 The McGraw-Hill Companies, Inc. Permission required for reproduction or display.
Statistics. Population Data: Including data from ALL people or items with the characteristic one wishes to understand. Sample Data: Utilizing a set.
Describing Data: Numerical Measures Chapter 3 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
ISTANBUL STOCK EXCHANGE (BIST) FELL 6 POINTS IN AVERAGE TODAY THE UNITED STATES DOLLAR (USD) APPRECIATED BY 4 PERCENT LAST WEEK AGAINST TURKISH LIRA (TRL).
Chapter 3 – Descriptive Statistics
CHAPTER SIX FUNCTIONS OF RANDOM VARIABLES SAMPLING DISTRIBUTIONS.
8.2 Measures of Central Tendency  In this section, we will study three measures of central tendency: the mean, the median and the mode. Each of these.
Barnett/Ziegler/Byleen Finite Mathematics 11e1 Learning Objectives for Section 11.2 Measures of Central Tendency The student will be able to calculate.
Unit 3 Sections 3-1 & 3-2. What we will be able to do throughout this chapter…  Use statistical methods to summarize data  The most familiar method.
Training Course on Basic Statistics for Research August 24-28, 2009 STATISTICAL RESEARCH AND TRAINING CENTER J and S Building, 104 Kalayaan Avenue, Diliman,
DATA FROM A SAMPLE OF 25 STUDENTS ABBAB0 00BABB BB0A0 A000AB ABA0BA.
Describing Data: Numerical Measures Chapter 3 McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
CHAPTER 36 Averages and Range. Range and Averages RANGE RANGE = LARGEST VALUE – SMALLEST VALUE TYPES OF AVERAGE 1. The MOST COMMON value is the MODE.
1 1 Slide © 2003 Thomson/South-Western. 2 2 Slide © 2003 Thomson/South-Western Chapter 3 Descriptive Statistics: Numerical Methods Part A n Measures of.
1 1 Slide Descriptive Statistics: Numerical Measures Location and Variability Chapter 3 BA 201.
In the year 2000, the average salaries of elementary school teachers in Oregon, Washington and Alaska were (in thousands USD) 40.9, 41.1 and Given.
Dot Plot is a graphical summaries of data. A horizontal axis shows the range of values for the observations. Each data value is represented by a dot placed.
Describing Data: Numerical Measures. GOALS 1.Calculate the arithmetic mean, weighted mean, median, mode, and geometric mean. 2.Explain the characteristics,
Statistics Numerical Representation of Data Part 1 – Measures of Central Tendency.
1 1 Slide IS 310 – Business Statistics IS 310 Business Statistics CSU Long Beach.
1 1 Slide © 2006 Thomson/South-Western Slides Prepared by JOHN S. LOUCKS St. Edward’s University Slides Prepared by JOHN S. LOUCKS St. Edward’s University.
Chapter 3, Part A Descriptive Statistics: Numerical Measures n Measures of Location n Measures of Variability.
1 1 Slide © 2008 Thomson South-Western. All Rights Reserved Slides by JOHN LOUCKS St. Edward’s University.
Measures of Central Tendency A statistic is a characteristic or measure obtained by using the data values from a sample. A parameter is a characteristic.
Chapter 3 Data Description Section 3-2 Measures of Central Tendency.
Chapter 3 Data Description 1 © McGraw-Hill, Bluman, 5 th ed, Chapter 3.
Describing Data: Numerical Measures Chapter 3 McGraw-Hill/Irwin Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.
Summary Statistics. One of the main purposes of statistics is to draw conclusions about a (usually large) population from a (usually small) sample of.
1 1 Slide Slides Prepared by JOHN S. LOUCKS St. Edward’s University © 2002 South-Western /Thomson Learning.
Larson/Farber Ch 2 1 Elementary Statistics Larson Farber 2 Descriptive Statistics.
Unit 2 Section 2.3. What we will be able to do throughout this part of the chapter…  Use statistical methods to summarize data  The most familiar method.
CHAPTER 3 DATA DESCRIPTION © MCGRAW-HILL, BLUMAN, 5 TH ED, CHAPTER 3 1.
Chapter 3 Descriptive Statistics: Numerical Methods.
MONTHLY STARTING SALARY (In TRL) GraduateMonthly Starting Salary 12,850 22,950 33,050 42,880 52,755 62,710 72,890 83,130 92, , , ,880.
Day 2. GOALS 1.Calculate the arithmetic mean, weighted mean, median, mode, and geometric mean. 2.Explain the characteristics, uses, advantages, and disadvantages.
3-2Measures of Variation Note: This PowerPoint is only a summary and your main source should be the book. Instructor: Alaa saud.
Data Description Note: This PowerPoint is only a summary and your main source should be the book. Lecture (8) Lecturer : FATEN AL-HUSSAIN.
3-2Measures of Variation Note: This PowerPoint is only a summary and your main source should be the book. Instructor: Alaa saud.
©The McGraw-Hill Companies, Inc. 2008McGraw-Hill/Irwin Describing Data: Numerical Measures Chapter 3.
Mean, Median, Mode, and Range By Jennifer Del-Castillo John F. Kennedy Middle School.
Date: Topic: Measures of Central Tendency Arrange these numbers in ascending order. Warm-up: 1. 34, 23, 42, 35, 41, 19, , 4.02, 5, 4.2, ,
1 1 Slide © 2008 Thomson South-Western. All Rights Reserved Slides by JOHN LOUCKS St. Edward’s University.
Statistics for Business
St. Edward’s University
DATA DESCRIPTION C H A P T E R T H R E E
Data Description Chapter(3) Lecture8)
Chapter 3 Descriptive Statistics: Numerical Measures Part A
Central Tendency Chapter 3 (part 3).
Mean, Median, Mode, and Range
McGraw-Hill, Bluman, 7th ed, Chapter 3
Data Set: Apartment Rents (in ascending order)
St. Edward’s University
Numerical Measures: Centrality and Variability
ISTANBUL STOCK EXCHANGE (BIST) FELL 6 POINTS IN AVERAGE TODAY
MEASURES OF CENTRAL TENDENCY
CHAPTET 3 Data Description.
In the year 2000, the average salaries of elementary school teachers in Oregon, Washington and Alaska were (in thousands USD) 40.9, 41.1 and Given.
Data Set: Apartment Rents (in ascending order)
St. Edward’s University
Essentials of Statistics for Business and Economics (8e)
Presentation transcript:

In the year 2000, the average salaries of elementary school teachers in Oregon, Washington and Alaska were (in thousands USD) 40.9, 41.1 and Given that there were 19.7, 28.1 and 5.3 thousand teachers in these states. Find the average salary of all the elementary school teachers in the three states.

A wholesaler sold 575, 410 and 520 microwave ovens at prices (in USD) 75, 125 and 100 respectively. What is the mean price of the ovens sold?

If somebody invests TL 1,000 at 7%, TL 3,000 at 7.5% and TL 16,000 at 8%. What is the overall percentage yield of these investments?

The number of employees of the municipalities in a certain area of a country were given in the following table Find the mean and modal class? #Frequency

THE MODE - If a data set has only one value that occurs with greatest frequency is said to be UNIMODAL -If a data set has two values that occur with the same greatest frequency is said to be BIMODAL -If a data set has more than two values that occur with the same greatest frequency, each value is used as the mode, and the data set is said to be MULTIMODAL -When no data value occurs more than once, the data set is said to have NO MODE

Example: The following data represent the duration (in days) of Space Shuttle voyages for the years (18 values) 8,9,9,14,8,8,10,7,6,9,7,8,10,14,11,8,14,11 Q: Find The Mode

Example: A manager of clothing store wants to approximate the median age of both his male and female customers so that he can take this into account when ordering stock. The following data are obtained (age in years) Female (x)Male (y) Q: Find the median age in years for both female and male customers

Example: These data are obtained on the sales per day in thousand of TRL at two franchises of the same hamburger chain. 0,92,51,42,6 1,73,23,61,3 2,93,82,75,9 3,50,74,84,7 Franchise AFranchise B 0,90,74,50,6 0,94,60,35,3 1,43,15,24,2 2,55,11,75,0 A- Find the sample mean for each franchise. Based on statistics, does it appear that the average sales per day for A is about the same as that for B? Explain. B- Find the sample median for each franchise. Based on statistics, does it appear that the average sales per day for A is about the same as that for B? Explain. C- Is it safe to say the distribution of sales per day is the same for these two franchises?.

MONTHLY STARTING SALARY (In TRL) GraduateMonthly Starting Salary 12,850 22,950 33,050 42,880 52,755 62,710 72,890 83,130 92, , , ,880 TOTAL: 35,280

Properties of the Mean 1- The Mean can be calculated for any set of NUMERICAL Data 2- The Mean is unique and unambiguous value. 3- The means of several sets of data can always be combined into the overall mean of all the data. 4- If each value in a sample were replaced by the mean, then ∑X would remain unchanged 5- The mean takes into account the value of each item in a set of data. 6- The mean is relatively reliable in the sense that means of many samples drawn from the same population generally do not fluctuate, or vary, as widely as other statistics used to estimate the mean of a population.

Properties of the Median In addition to the properties of the Mean; 1- It splits the data into two parts 2- The median is preferable to the mean because it is not so easily affected by extreme values.

Problem: The following list gives the duration in minutes of 24 power failures Find the median.

Data Set: Apartment Rents (in ascending order) Data Set: Apartment Rents

Standardized Values for Apartment Rents

Monthly Starting Salaries for a sample of 12 business school graduates Graduat e Monthly Starting Salary (TRL) 12,020 22,075 32,125 42,040 51,980 61,955 72,050 82,165 92, , , ,040

A testing lab wishes to test two experimental brands of outdoor paint to see how long each will last before fading. Two groups from different agents are formed with 6 cans of each. The results (in Months) are shown: Brand ABrand B

A student scored 65 on statistics test that had a mean of 50 and a standard deviation of 10, she scored 30 on history test with a mean of 25 and a standard deviation of 5. Compare her relative positions on the two tests

App.GradeApp.GradeApp.GradeApp.Grade Table: Ordered Array of Aptitude Test Scores for 40 Job Applicants. ∑x=2338 and ∑x 2 =157262