Your SlideShare is downloading. ×
0
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Understanding central tendency properties in statistics
Upcoming SlideShare
Loading in...5
×

Thanks for flagging this SlideShare!

Oops! An error has occurred.

×
Saving this for later? Get the SlideShare app to save on your phone or tablet. Read anywhere, anytime – even offline.
Text the download link to your phone
Standard text messaging rates apply

Understanding central tendency properties in statistics

3,554

Published on

Published in: Technology, Economy & Finance
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total Views
3,554
On Slideshare
0
From Embeds
0
Number of Embeds
0
Actions
Shares
0
Downloads
49
Comments
0
Likes
1
Embeds 0
No embeds

Report content
Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
No notes for slide

Transcript

  • 1. Understanding Central Tendency Properties in Statistics<br />www.HelpWithAssignment.com<br />
  • 2. Numerical Data<br />Properties<br />RelativeStanding<br />Central Tendency<br />Variation<br />Mean<br />Range<br />Percentiles<br />Interquartile Range<br />Median<br />Z–scores<br />Variance<br />Mode<br />Standard Deviation<br />Numerical DataProperties &amp; Measures<br />www.HelpWithAssignment.com<br />
  • 3. Measure of central tendency<br />Most common measure<br />Acts as ‘balance point’<br />Affected by extreme values (‘outliers’)<br />Formula (sample mean)<br />Mean<br />n<br /><br />X<br />i<br />X<br />X<br />X<br /><br /><br /><br />…<br /><br />n<br />1<br />2<br />1<br />i<br />X<br /><br /><br />n<br />n<br /> www.HelpWithAssignment.com<br />
  • 4. Raw Data: 10.3 4.9 8.9 11.7 6.3 7.7<br /><br />X<br />X<br />X<br />X<br />X<br />X<br />X<br /><br /><br /><br /><br /><br />1<br />2<br />3<br />4<br />5<br />6<br /><br />1<br />X<br /><br /><br />n<br />6<br /><br /><br /><br /><br /><br />10<br />8<br />9<br />11<br />6<br />3<br />.<br />.<br />.<br />.<br /><br />6<br /><br />30<br />.<br /> www.HelpWithAssignment.com<br />
  • 5. Numerical DataProperties &amp; Measures<br />Numerical Data<br />Properties<br />RelativeStanding<br />Central<br />Variation<br />Tendency<br />Percentiles<br />Mean<br />Range<br />Median<br />Interquartile Range<br />Z–scores<br />Mode<br />Variance<br />Standard Deviation<br /> www.HelpWithAssignment.com<br />
  • 6. Measure of central tendency<br />Middle value in ordered sequence<br /> If n is odd, middle value of sequence<br /> If n is even, average of 2 middle values<br />Position of median in sequence <br />Not affected by extreme values<br />Median<br /><br />n<br />1<br />Positioning<br /> Point<br /><br />2<br /> www.HelpWithAssignment.com<br />
  • 7. Raw Data: 24.1 22.6 21.5 23.7 22.6<br />Ordered: 21.5 22.6 22.6 23.7 24.1<br />Position: 1 2 3 4 5<br />Median Example Odd-Sized Sample<br /><br /><br />n<br />1<br />5<br />1<br />Positioning<br /> Point<br /><br /><br /><br />3<br />0<br />.<br />2<br />2<br />Median<br /><br />22<br />6<br />.<br /> www.HelpWithAssignment.com<br />
  • 8. Median Example Even-Sized Sample<br />Raw Data: 10.3 4.9 8.9 11.7 6.3 7.7<br />Ordered: 4.9 6.3 7.78.9 10.3 11.7<br />Position: 1 2 34 5 6<br /><br /><br />n<br />1<br />6<br />1<br />Positioning<br /> Point<br /><br /><br /><br />3<br />5<br />.<br />2<br />2<br /><br />7<br />7<br />8<br />9<br />.<br />.<br />Median<br /><br /><br />8<br />30<br />.<br />2<br /> www.HelpWithAssignment.com<br />
  • 9. Numerical DataProperties &amp; Measures<br />Numerical Data<br />Properties<br />RelativeStanding<br />Central<br />Variation<br />Tendency<br />Range<br />Mean<br />Percentiles<br />Interquartile Range<br />Median<br />Z–scores<br />Mode<br />Variance<br />Standard Deviation<br /> www.HelpWithAssignment.com<br />
  • 10. Measure of central tendency<br />Value that occurs most often<br />Not affected by extreme values<br />May be no mode or several modes<br />May be used for quantitative or qualitative data<br />Mode<br /> www.HelpWithAssignment.com<br />
  • 11. No ModeRaw Data: 10.3 4.9 8.9 11.7 6.3 7.7<br />One ModeRaw Data: 6.3 4.9 8.9 6.3 4.9 4.9<br />More Than 1 ModeRaw Data: 21 28 28 41 4343<br />Mode Example<br /> www.HelpWithAssignment.com<br />
  • 12. Thinking Challenge<br />You’re a financial analyst for Prudential-Bache Securities. You have collected the following closing stock prices of new stock issues: 17, 16, 21, 18, 13, 16, 12, 11.<br />Describe the stock pricesin terms of central tendency.<br /> www.HelpWithAssignment.com<br />
  • 13. Central Tendency Solution<br />Mean<br />n<br /><br />X<br />i<br />X<br />X<br />X<br /><br /><br /><br />…<br />1<br />2<br />8<br />i<br /><br />1<br />X<br /><br /><br />n<br />8<br /><br /><br /><br /><br /><br /><br /><br />17<br />16<br />21<br />18<br />13<br />16<br />12<br />11<br /><br />8<br /><br />15<br />5<br />.<br /> www.HelpWithAssignment.com<br />
  • 14. Central Tendency Solution<br />Median<br /><ul><li>Raw Data: 17 16 21 18 13 16 12 11
  • 15. Ordered: 11 12 13 16 16 17 18 21
  • 16. Position: 1 2 3 4 5 6 7 8</li></ul><br /><br />n<br />1<br />8<br />1<br /><br /><br /><br />4<br />5<br />.<br />Positioning Point<br />2<br />2<br /><br />16<br />16<br />Median<br /><br /><br />16<br />2<br /> www.HelpWithAssignment.com<br />
  • 17. Mode<br />Raw Data: 17 16 21 18 13 16 12 11<br /> Mode = 16<br />Central Tendency Solution<br /> www.HelpWithAssignment.com<br />
  • 18. Summary of Central Tendency Measures <br />Measure<br />Formula<br />Description<br />Mean<br />Balance Point<br /><br />X<br />/ <br />n<br />i<br />Median<br />(<br />n<br />+1)<br />Middle Value<br /> Position<br /> 2<br />When Ordered<br />Mode<br />none<br />Most Frequent<br /> www.HelpWithAssignment.com<br />
  • 19. HelpWithAssignment.com<br />At HelpWithAssignment.com we provide best quality Assignment help, Homework help, Online Tutoring and Thesis and Dissertation help as well. For any of the above services you can contact us at http://www.helpwithassignment.com/ andhttp://www.helpwithassignment.com/statistics-assignment-help<br /> www.HelpWithAssignment.com<br />
  • 20. HelpWithAssignment.com<br />You can follow us on our blogs at http://helpwithassignment.blogspot.com/ and<br />http://helpwithassignment.wordpress.com/<br />Thank You<br /> www.HelpWithAssignment.com<br />

×