Question

Year Annual Return Year Annual Return 9% 8% 12 14 10 4 4 12 Mean The mean, also known as the arithmetic mean, tells the The mean adds up all the observations and divides by the number of observations, as shown in the following formula value a variable is expected to take rt The mean (or average) return for this stock over the past 12 years is mean, while μ represents a or notational purposes, x-bar represents a However, they are calculated the same way mean Median The median indicates the lies above the median and the other half lies below it observation in a data set. The median tells us that half the data set If you list all your observations in numerical order, the median would be the middle observation. For data sets with an odd number of observations, identifying the median is easy. However, for data sets with an even number of items, there is no "middle." In that case, you average the two middle observations to find the median Now, present the stock return data in ascending order: 4%, 5%, 5%, 6%, 6%, 6%, 7%, 8%, 8%, 9%, 12%, 14% This data set has 12 observations, so average observations 6 and to find the median, which is When the median and mean are similar, you can conclude that the data is relatively symmetrical. Depending on the distribution's shape, the data may be normally or uniformly distributed. However, if the median is significantly less than or greater than the mean, that suggests that several extremely high or low observations, called must be affecting the results, and that the distribution is skewed. Are there any outliers in this sample of data? Mode The mode indicates the because it occurs 3 times. observation. In the stock return data, the mode is The mode does not necessarily indicate the center of a data set, but if the data is roughly symmetrical, the mode will be close to the mean and median Check Your Understanding Your college football team has 15 linebackers listed on the roster. The weights of these 15 players are shown below: 219 208 227 227 215 233 236 220 225 241 238 203 248 208 227 What is the weight of the average linebacker? The is What weight is most common amongst the linebackers? The IS What is the average weight of the linebackers? The IS

Answer 1

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