Management and Organizational Studies 2242A/B Lecture Notes - Average Absolute Deviation, Squared Deviations From The Mean, Standard Deviation

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2242A/B
• Professor: Drewes

Document Summary

Chapter three continued lack of katey laptop. So we can see how spread out the data is. Difference between the largest and smallest number. Arithmetic mean of the absolute values of the deviations from the arithmetic mean: all values are used in the calculation, major drawback is the use of absolute values. It is easy to understand because it is the average of the deviations from the mean. Population variance is the arithmetic mean of the squared deviations from the population mean: all values are used in the calculation, the units are awkward, the square of the original number, this number doesn"t tell you anything. Yay for math: formula is in the slides. To calculate: find the mean, find the difference between each observation and the mean, square them, add them up, divide by number of observations. The answer is not the same as the mean absolute deviation.