ECMT1010 Lecture Notes - Lecture 3: Interquartile Range, Scatter Plot, Box Plot

• School: University of Sydney
• Department: Econometrics
• Course: ECMT1010
• Professor: All

Document Summary

Ecmt1010 - plotly handy internet website for graphing. A statistic is a fact about the data. Notation: donates the number of cases in the sample or the sample size, represents a variable represents the values of the variable, 1. The mean is the numerical average of the data values. The sample mean is an estimate of the population mean. We use the sample mean to infer something about the population mean. The median (m) is the middle value when the data are ordered from smallest to largest. Find the mean and the median for each of the following: = {8,12,3,18,15} An outlier is an observed value that is notable distinct from the other values in a dataset. In this dotplot, the distribution is skewed to the right. Example: esse(cid:374)tially, the (cid:373)ea(cid:374) is the (cid:862)(cid:271)ala(cid:374)(cid:272)i(cid:374)g poi(cid:374)t(cid:863) of a dotplot or histogra(cid:373) i(cid:374) the se(cid:374)se that it is the point on the horizontal axis that balances the graph.