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•Twenty-five per cent of the measurements are less than the lower quartile
•Fifty per cent of the measurements are less than the median
•Seventy-five per cent of the measurements are less than the upper quartile.
So, fifty per cent of the measurements are between the lower quartile and the
upper quartile.
The lower quartile, median and upper quartile are often denoted by Q1, Q2 and
Q3 respectively.
1. Find x̅
= 30.5 runs
x̅ = 3+80+64+5+11+87+0+2+53+0
10
x̅ = 30.5 runs
Mean Deviation calculations for Joe Mean = 30.5
= 324.0
10
= 32.4
It depends on your priorities!
If you are looking for a consistent batter, the
choice will be Joe, since he has a much smaller
mean deviation.
Find
a) the mean
b) the range of prices
c) the mean deviation of prices
d) the standard deviation of prices
Now use the Financial Calculator to Find the Mean and Standard
Deviation… check the question to see if it a sample or a population.
The standard deviation can not be negative
The more scattered the data, the greater the
standard deviation
The standard deviation of a set of data is zero if,
and only if, the observations are of equal value
A rough guide to whether a calculated answer is
‘reasonable’ is for the standard deviation to be
approximately 30% of the range
Note for this data set is the standard deviation around 30% of the range?
Range is …… 94 – 72 = 22
Dev Dev
Scores B From mean Squared
1 0 -25 625
2 0 -25 625
3 0 -25 625
4 100 75 5625
Total 7500
V = 100 . S. %
x̅
This is the Standard Deviation divided by the mean – that is the ratio of
the standard deviation to the mean – the higher the figure the greater the
deviation
Select a range of questions from the Problems in this chapter – enough so that you feel
comfortable with this topic