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Chapter 3 (1/2): Measures (Arithmetic Mean (Purpose (To measure location),…
Chapter 3 (1/2): Measures
Population Mean
The sum of all the population values divided by the total number of population values
Sample Mean
The sum of all the sample population values divided by the total number of sample values
Weighted Mean
Occurs when there are several observations of the same value
Arithmetic Mean
Purpose
To measure location
Every set of interval-level or ratio-level has a mean
Sum of the deviations of each value from the mean is 0
All values are included in calculating the mean
Mode
Value of the observation that appears frequently
Median
Midpoint values after the organized in order
Skewness
Positive
mode < median < mean
Negative
mode > median > mean
Zero
Mode = median = mean
Geomatric Mean
Usage
Finding the average change of percentages, ratios, indexes, or growth rates over time
Rate of Increase Over Time