ECON 1008 Study Guide - Midterm Guide: Unimodality, Sampling Bias, Probability Plot

• School: University of Adelaide
• Department: ECON - Economics
• Course: ECON 1008
• Professor: All

Document Summary

Quantitative data (numerical): data has known units and is measurable. Qualitative data (categorical): the data are counts or percentages of individuals in categories. Discrete data: you can count the outcomes (e. g. cars passing a point) Continuous data: you can measure the outcomes (e. g. weights) When averages are taken across different groups, they can appear to contradict the overall averages. This occurs when tables of unequal rows totals are pooled. Bar chart has spaces between bars displays categorical (qualitative) data no spaces between bars displays quantitative data. Split the data in 2 at the median (if n is odd, include the median in both halves) Find the median of each half- these are the quartiles. Min, q1, median, q3, max (+n size) The middle value(s) of a set of ordered data values. If n is even, use the average of the two middle numbers. Standard deviation summarises how spread out the data are around the mean.