MANAGERIAL ECONOMICS – MIDTERM.

105.77
Mean- also known as the average is the sum f
these values divided by the number values.
Population Parameter- is any measurable
characteristic of a population.
EXAMPLE OF MEAN:
18,25,35,30,42,28,20,15,40,38
10
= 29.1
Median- it is the midpoint of the data set.
EXAMPLE: Arrange lowest to highest.
12,15,16,18,19,20,21,23,24
If there is two median:
12,15,16,17,18,19,20,21,23,24
add the two median then divide by 2.
9
= 11.75
Quartile- the values that divide the data set
into 4 equal parts after it has been arrange in
order.
Deciles- The values which divide an array into
ten equal parts are called deciles.
Percentiles- is a measure used to indicate the
value below which a given percentage of
observations fall.
FORMULAS:

Mode- it is the value that occurs most

frequently. The mode is normally used when
data are categorical.
Range- it is the difference between the largest
and smallest values in a set.
EXAMPLE OF RANGE:
VARIANCE EXAMPLE:
152,105,100,132,152,140
Arrange the set in order, 152-100 = 52.

MAD/Mean Absolute Deviation- It is the

average of the absolute deviation values from
the mean.
EXAMPLE: 92, 87, 88, 94, 90, 85, 89, 91, 30
9
746 = 82.89
9
X X-X
92 (92-82.89) = 9.11
87 (87-82.89) = 4.11
88 (88-82.89) = 5.11
94 (94-82.89) = 11.11
90 (90-82.89) = 7.11
85 (85-82.89) = 2.11
89 (89-82.89) = 6.11
91 (89-82.29) = 8.11
30 (89.29-30) = 52.89
= 105.77
 FORMULA:
TO GET STANDARD VARIATION:

Correlation Analysis- concerned with the

relationship among variables.
Phi Correlation- used to determine
relationship between two variables that are in
nominal scale.
Point Biserial Correlation- used to determine
relationship between two variables, one which
is a nominal or ordinal scale and the other one
is interval/ratio scale.
Spearman Rank Correlation- is used to
determine relationship between two variables
that are in ordinal scale.
FORMULA:

Pearson product moment correlation- is

used to determine relationship, between two
variables that are in interval or ratio scale.
FORMULA:

Symmetric distribution- also known as bell-

shaped probability distribution or the normal
distribution. It is also known as a normal
random variable.
Normal Curve- is a asymptotic to the x-axis
in both directions.
Asymptote- a line that never intersect.
Standard Normal Distribution- has a mean
of 0 and a standard deviation of 1.
Standard Score/Z-Score- the number of
standard deviations from the mean.