1.  Statistical Measures allow us to compare individual values to other values in a data set. They are things like:  Per capita  Percent change  Percentile  Weighted mean

2.  Per Capita: means “for each head”, it is the average per person  Net Worth: Total assets (wealth) minus total liabilities (debt)  Percent Change: Measures a change in value over time

3.  Percentile: A number between 1 and 99 indicating the percent of the population with a score less than or equal to a specific value  Percentile Rank: The percent of the population with a score less than a specific score p: percentile Rank L: the number of scores less than the particular score E: the number of scores equal to the particular score n: total number of scores

4.  Weighted Mean: A mean in which each component has a different weighting factor; to calculate, multiply each value by its weighting factor, then divide by the sum of the factors  Let’s see if we can combine all this vocabulary and tackle a problem…

5. Many business, health and economics statistics are expressed as per capita figures. In March 2008, the national wealth of Canada was $5 702 000 000 000. The national debt was $23 000 000 000. The population of Canada was 33 223 840. a) What was Canada’s per capita wealth?

8. Recall Percent Change: measures a change in value over time EX. 1: The table below shows a company’s profits each year for five years, as reported in a newspaper. YearProfit ($) 2005186000 2006364000 2007728000 2008212000 2009-22000 a) Calculate the percent change in profit from 2005 to 2006.

9. b) Calculate the percent change in profit from 2008 to 2009. YearProfit ($) 2005186000 2006364000 2007728000 2008212000 2009-22000

10. c) The company’s financial report stated: “There was a 200% increase in profits from 2006 to 2007.” Do you agree with this statement? YearProfit ($) 2005186000 2006364000 2007728000 2008212000 2009-22000

11.  WEIGHTED MEAN: A mean in which each component has a different weighting factor; to calculate, multiply each value by its weighting factor, then divide by the sum of the factors.

12. A college instructor uses a weighted mean to calculate her students’ marks. Hanna and David’s marks are shown, along with the weighting. HannaDavid Quiz (out of 30)2418 Assignment (out of 60)4046 Test (out of 120)8995 Independent Study (out of 60)4348 Performance Task (out of 100)8582 Final Exam (out of 90)7264 WEIGHTING FACTORS Q = quiz (15%) A = assignment (15%) T = test (25%) IS = independent study (10%) PT = performance task (10%) EX = final exam (25%) Who has the better percent overall mark and by how much?

13. 1. Convert the scores to percents. 2. For each student, multiply each percent by the weight factor, find the sum of all the category weights, and then divide this sum by the sum of the weights. HannaDavid Quiz (out of 30) Assignment (out of 60) Test (out of 120) Independent Study (out of 60) Performance Task (out of 100) Final Exam (out of 90)

14. WEIGHTING FACTORS Q = quiz (15%) A = assignment (15%) T = test (25%) IS = independent study (10%) PT = performance task (10%) EX = final exam (25%)

15.  p. 205 #1ace, 2bdf, 3, 4, 6, 9abcd