BUEC 232 Lecture Notes - Lecture 2: Rho, Kurtosis, Data Analysis

• School: Simon Fraser University
• Department: Business Economics
• Course: BUEC 232
• Professor: all

Document Summary

Central tendency is the extent to which all the data values group around a typical or central value. Variation is the amount of dispersion or scattering of values. Shape is the pattern of the distribution of values from the lowest value to the highest value. The arithmetic mean (mean) is the most common measure of central tendency. Mean: sum of values divided by the number of values, affected by extreme values (outliers). In an ordered array, the median is the middle number (50% above, 50% below: not affected by extreme values. If the number of values is odd, the median is the middle number. If the number of values is even, the median is the average of the two middle numbers. Quartiles formula: find a quartile by determining the value in the appropriate position in the ranked data, where, first quartile position, second quartile position: q2 = (n+1)/2, third quartile position: Where n is the number of observed values.