QMS 102 Lecture 4: QMS102 - Class 4 Notes

• School: Ryerson University
• Department: Quantitative Methods
• Course: QMS 102
• Professor: Nursel Ruzgar

Document Summary

Measures of central location: usually, we focus our attention on two types of measures when describing population characteristics: The measure of central location reflects the locations of all the actual data points: the measure of central location reflects the locations of all the actual data points. Arithmetic mean: the arithmetic mean, or average, simply as mean, is the most popular & useful measure of central location. It is computed by simply adding up all the observations and dividing by the total number of observations: Numerical descriptive measures for a population: descriptive statistics discussed previously described a sample, not the population, summary measures describing a population, called parameters, are denoted with greek letters. Important population parameters are the population mean, variance, and standard deviation: the population mean is the sum of the values in the population divided by the population size, n. Is appropriate for describing interval data, e. g. heights of people, marks of student papers, etc