QUANTITATIVE: MEAN,MEDIAN,MODE Flashcards
(26 cards)
Layman’s concept of average
Mean
It is sensitive to extreme values
Mean
It is used especially when other statistical
techniques like testing of hypotheses are to be applied to the data.
Mean
The middlemost observation in a set of data arranged in numerical order
Median
It is not sensitive to extreme values
Median
It is used when distribution is markedly skewed
Median
The most frequently occurring value among the observations
Mode
Unaffected by extreme values
Mode
Not used in higher statistical analysis
Mode
Used for continuous and symmetric data
Mean
Used for ordinal data or for a numerical data whose distribution is skewed
Median
Dealing with ordinal data
Median
Used primarily for bimodal distributions
Mode
The least used of the measures of central tendency
Mode
Can only be used when dealing with nominal data
Mode
highest lowest value
Range
The average of squared differences from the mean
Variance
It is simply the squared value of the standard deviation
Variance
Looks at how spread out a group of numbers is from the mean
Standard Deviation
Square root of the variance
Standard deviation
Measures variability in relation to the mean
Coefficient of Variations
It is useful in comparing two series for sets of data, especially when such sets or series are expressed in different units of measurements
Coefficient of Variations
Summary indices describing the “central point” or the most characteristic value of a set of measurement
Measures of Position/Location
Values of random variable X that divides the observations into 100 equal parts
Percentile
