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You are on page 1of 25

MEASURES

Review

i. Measures of central tendency, variation and

shape

a. Mean, median and mode

b. Quartiles

c. Geometric mean

d. Range, Interquartile range

e. Mean absolute deviation

f. Variance and standard deviation

g. Coefficient of variation

h. Z scores

i. Shape

2

Scope of this lecture

i. Mean

ii. Variance and standard deviation

iii. Empirical rule

iv. Chebyshev rule

Example problems

3

Population mean, variance and standard

deviation

is given by,

Population variance

4

Empirical rule

bell-shaped (normal) distribution

from the mean

ii. Appx. 95.5% of the values are within

from the mean

iii. Appx. 99.7% of the values are within

from the mean

5

Empirical rule

6

Population mean, variance and standard

deviation

state affected by food shortage. The following

reports arrive from a local investigator:

Daily calorific value of food available per adult

during current period:

Area Mean Std.

Dev.

The estimated requirement of an

A 2500 400

adult is taken as 2800 calories daily

and the absolute min. is 1350. B 2000 200

which area in your opinion needs more urgent

attention.

7

Population mean, variance and standard

deviation

with limited access to food. Looking into the farther

ends of the distribution,

Area A: = 2500-3*400 = 1300

= 2500+3*400 = 3700

Area B: = 2000 - 3*200 = 1400

= 2000 + 3*200 = 2600

8

Population mean, variance and standard

deviation

its customers to supply machined pump gears. One

requirement is that the diameter of its gears be

within specific limits. The following data is of

diameters of 20 sample gears.

4.01 4 4.02 4.03 4 3.98 3.99 3.99

4.01 4.02 3.99 3.98 3.97 4 4.02 4.01

4.02 4 4.01 3.99

the diameters of 95% of the gears.

9

Population mean, variance and standard

deviation

4.5

A: 4

3.5

3

2.5

2

1.5

1

Assuming that the distribution is bell shaped, then

0.5

0

95% of the gear diameters should

1 lie

2 between:

3 4 5 6 7

i.e. [3.970, 4.034] inches.

10

Chebyshev rule

distribution, the % of values that are found within

the distances of k>1 standard deviations from the

mean must be atleast (1-1/k2)*100%

= 6. A rumor says 5 students have scores 62 or

below. Can the rumor be true ?

k = (62-80)/6=-3 => (1-1/k2)=1-1/9=8/9

So, atleast 8/9 fraction of students (i.e. 36*8/9=32)

scored between 62 and 80+3*6=98. So, not more

than 36-32=4 students are outside the range

[62,98]. So the rumor is False. 11

Population - grouped data

Population mean

Population variance

Population standard deviation

Here x is the midpoint of each class

Sample variance

Sample standard deviation

12

Population - grouped data

production of a new collar to attract young men.

Thus following statistics of neck circumference are

available based on measurement of a typical group

of the college students

Mid value (in

inches) 12 12.5 13 13.5 14 14.5 15 15.5 16

No. of students 2 16 36 60 76 37 18 3 2

largest and smallest size of the collar he should

make to meet the needs of practically all customers

bearing in mind that collar are worn on average half

inch longer than neck size.

13

Population - grouped data

X Xf f fX fX2

fX fX2

12 122 2 24 288

24 288

12.5 16

12.5 16200 2500

200 2500

13 36

13 36468 6084

468 6084

13.5 60

13.5 60810 10935

810 10935

14 76

14 761064 14896

1064 14896

14.5 37 536.5 7779.25

14.5 37 536.5 7779.25

15 18 270 4050

15 18 270 4050

15.5 3 46.5 720.75

15.5 3 46.5 720.75

16 2 32 512

Totals 16

250 23451 32

47765 512

Totals 250 3451 47765

mean = 13.804

mean = 13.804

0.713852 0.713852

std.dev. = std. dev. =

14

Population - grouped data

= 13.8043*0.71385 = 15.945 and 11.66

has to be added to the above two values

15

Population - grouped data

certain alloy are:

strength

Strength of the alloy and the standard pieces

44-46 3

Deviation. Calculate the percentage of46-48 24

Observations lying between . 48-50 27

50-52 21

52-54 5

16

Population - grouped data

X fX fX

f fXfX

2

fX2

45 345 135

3 6075

135 6075

47 2447 1128

24 53016

1128 53016

49 2749 1323

27 64827

1323 64827

51 2151 1071

21 54621

1071 54621

53 553 265

5 14045

265 14045

19258 19258

Totals 80

Totals 3922

80 4

3922 4

1.9619 1.9619

std. dev. = std. dev. = 82 82

and ~53.

17

Population - grouped data

within lower and upper limits of each class.

in this range

53 is midpoint of class 52-54 of freq. 5 => 2.5 freq.

in this range

1.5+24+27+21+2.5 = 76

18

Example problems

changes in the no. of convicts assigned to the

largest correctional facility in the state. Most recent

data on % increase in the no. of prisoners are

200 200 200 200 200

2002 3 4 5 6 7

-5% 6% 9% 4% 7% -6%

b) A new penal code was passed in 2001.

Previously the prison population grew at a rate of

about 2% per year. What seems to be the effect

of the new penal code.

19

Example problems

G.M. is appropriate here.

a) G.M. =

= 1.03365

This is an avg. rate of 3.365% increase per year

b) G.M. =

This is 1.74% increase per year. Therefore with

the new penal code, the growth of no. of convicts

decreased from 2% to 1.74% per year.

20

Example problems

At A, a representative sample of 200 consumers

who purchase petrol was taken:

No. of No. of

liters consumers

0 and < 2 15

2 and < 4 40

4 and < 6 65

6 and < 8 40

8 and < 10 30

10 and over 10

A similar sample at B gives a mean of 4 liters and

std. dev. of 2.2 liters. At which station is purchase of

petrol relatively more variable ?

21

Example problems

So we compare them using coefficient of variation

liters consumers point fx fx2

0 and < 2 15 1 15 15

2 and < 4 40 3 120 360

4 and < 6 65 5 325 1625

6 and < 8 40 7 280 1960

8 and < 10 30 9 270 2430

10 and over 10 11 110 1210

Totals 200 1120 7600

22

Example problems

A: At station A,

5.6

Mean = 5.6

std. dev. =

2.57682 2.57682

CV =

46.01464% 46.01464%

At station B,

CV = 2.2/4*100 = 55%

23

Example problems

Sampling

Summary tables

Bar, pie, pareto charts

Cumulative distribution

Histogram, Polygon

Cross tabulations, side-by-side bar charts

Scatter diagram, Time-series plot

Quartiles

Range, Interquartile range

Mean absolute deviation

Variance and standard deviation

Coefficient of variation

Z scores

Shape

24

References

Viswanathan, Business Statistics: A First

Course, Pearson Education, 5th Ed., 2011.

S. Murphree,

Business statistics in practice, 5th Edition.

25

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