### Create a StudySoup account

#### Be part of our community, it's free to join!

Already have a StudySoup account? Login here

# MAS 201 Chapter3 classnote.pdf MAS 211

UM

### View Full Document

## 246

## 0

## Popular in INTRODUCTION TO BUSINESS STATISTICS

## Popular in Business

This 6 page Class Notes was uploaded by YALIN ZHANG on Saturday February 7, 2015. The Class Notes belongs to MAS 211 at University of Miami taught by Mary McKenry in Winter2015. Since its upload, it has received 246 views. For similar materials see INTRODUCTION TO BUSINESS STATISTICS in Business at University of Miami.

## Reviews for MAS 201 Chapter3 classnote.pdf

### What is Karma?

#### Karma is the currency of StudySoup.

#### You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!

Date Created: 02/07/15

l a MAS 2x01 r39 1 Chapter 3 Descriptive Statistics Numerical Methods Population parameters Sample statistics 1 Measures of Location Measures of Central Tendency 39 x Mean arithmetic average 1 l EX 5 n o Median the value in the middle of the distribution where 50 of the observations are less than this value and 50 are greater than this value To obtain the median place the data in order and determine the middle observation the location will be at n 1l2 For an even number of observations average the middle two 0 Mode The value that occurs most often Example For a sample of six days the following number of birthday cakes were sold 6 9 7 5 6 3 Determine the measures of central tendency Scanned by CamScanner MAS 201 Chapter 3 Percentiles and Quartiles 39 d a are sprea Percentiles provide information about how the data throughout the distribution f x r ercent o The pth percentile represents the value where at leg 8 PEI p the observations are less than or equal to p an a I to this value percent of the observations are greater than or equa l 7 To obtain the p th percentile Arrange the data in numerical order Determine the location of the percentile by multiplying the percentage as a decimal by the number of observations n v if this position is an integer then average the value with the next one if it isn t an integer round up to obtain an integer this represents the location of the percentile Quartiles are percentiles that are commonly used 2 25th Percentile is the 15 Quartile r it mam 50th Percentile is the 2 Cl Quartile and is also the median I75 r 39 7395th Percentile is the 3quot Quartile 1 Exampie Weekly commissions on the sale of computer equipment vary by the experience of the salesperson and the number of hours they may work The following data was collected for 20 sales persons and has been numerically arranged for ease of discussion 150 200 225 225 250 300 325 400 425 500 525 550 550 575 600 625 625 650 675 700 7 r lt g CW7 L ch 2333 a Determine the following Percentiles 39 c g39 e 39 n 1 20th Percentile kite 4A5 meagrem 7 w 237439 02 5an Niejir owl netLt obi if p V 2 35th Percentile WI 4 H 35 Pee mimeL in 73qu 439 r l 039 2 057 AT 5 quotL A 39k b Determine the 1st and 3rd Quartiles E f 35 s l am be L U 15 1 1 r w r tweequot 3 396 I23 5 U l k 153 2 Scannedhy Camscanner I MAS 201 Chapter 3 239 Measu 39 res 0f Dispersuon or Measures of Variability Flange Rangelargest smallest 77 75 K Mean Absolute Deviation 6 O a 2 r 7 l 23 7 2 i x x v 55quotquot 0 Variance 39 l l O 5 0 Standard Deviation O 0 Coefficient of Variation compares the standard deviation to the mean S l 3 CV 100 3 3 039 CV 100 1 Determine these measures of dispersion for the Cake example V A p g i 25 gt3 5911 7 8 U mbce is I f f Scanned by CamScanner 2 AH we mm 2 saw it MAS 201 gt Chapter 3 41 3 Distribution lea1 l 1 Within 2 and mt damee w i 7 f V o Z scorfrepresents theufer of stndard diet I i mmn 2 2 g S j A observation 2 is from the mean Values are typically within 3 standard dewations of the mean so values less than or 7 F4 greater than 3 are potential outliers Z is also referred to as a 2 r a F CAr standardlzed value quot 2 Z 7 3 woLustiat z x r x 2 e 395 S x p s Z gt5 t as 039 0 Empirical Rule Applies only when the data have a bell shaped distribution Mmt gtithqwit mmquot39 o Apprdxnmately 65 of the observations are within one standard deviation of the mean 0 Approximately 95 of the observations are within two standard deviations of the mean Approximately 997 of the observations are within three standard deviations of the mean Notice the relationship of the last statement to the statement about z scores typically being between 3 and 3 O o Chebyshev s Theorem Appliesto any distribution At leastT 122 of the observations will be within 2 73 standard deviations of the mean where z 3 1 I V I Use the Cake Data with Chebyshev s theorem when 218 7 36 5 2 4E l t DtA l39 2 39 9 6 mm qud i wxorao aa heels 7 a t I 390 W Y Cu r least 6774 of w m t 0 Five NumberSummary O To 2 0 Q1 7 mg 3067 0 Median 1quot V H 39 V b O 03 tP39lf 6IZ J y 0 Maximum 71339 V3 eaquot lQR lnter quartile Range 3 Hattie o lQRQ3 01 a 2 23 23979 lY DJ r quot39 Test for outliers I X L 7 7 I f o gt031510R it H5437 Hail Box Pi graph of the ve number summary indicating Outliers if they exist i ti v to f so 6 53 10 9 W A Scanned by CamScanner f cw Wu W W W quot CH 3 mm Osample la mm Erma CumMm n lt76an mat Uan39 an secnslcr i c39w m 7 we 4 FDPMW M ET How 0 Wham 39 mQE bOm The vain h 161 mirth C all f 3 Ln r sov em u j WM 7 r 4 ark Mimi n 397quot lt9 NM wy We at MW W 9 MbLlE 1 OLuv3 mori39 131 mooie l vwwilu w a 39 r medx S R M h m m cm 9 7H P ceghluz r L I D39ln39fej r aka a I g 1le am 1 amje H9 hag M LT to notl rdpje L 73231339 LLGLRg Q n 8 3 Qt lo ysbi 1U 7 Magma hawkq Dwaerrw XL f 39 r amp Lr 1mg L 7 lt9 39gt M MQK Wje 39 maxf m39M lmMt mean gimme dwame 5 393 H 5 Wisquot 1 FT SW dam5m 311 TV a LwHue UGHL HM saws cu s quot L 3 I 8 twin dewmkm LIE Hf x m MetM h 9 39 ifquot a UWIQ rs 75 13 7 un insn Scanned by CamScanner 4391 U1 1 7i quot5 W 1quot mw u Mum a rm 3 orquot galw 3 M FQM E W lif mg 775 5 8 73121 2 u s 2quot 5 78 i as Li39mrmml my Wm MU IL 01m Acne quotAwquot WW cowgmd 19 63gt Wm ne gmMml dwrn nm a f 64 meg 7 1 HA 1 SWICRA c lcmmqu 3 5L7 394 mi 39 he 390 ram I P0631 disFr3 u AH em et w a 7193 ame W v n i 56 of 74 m6ng 739 22 7 bawdy 22039 x 9177 Scanned by CamScanner

### BOOM! Enjoy Your Free Notes!

We've added these Notes to your profile, click here to view them now.

### You're already Subscribed!

Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'

## Why people love StudySoup

#### "There's no way I would have passed my Organic Chemistry class this semester without the notes and study guides I got from StudySoup."

#### "When you're taking detailed notes and trying to help everyone else out in the class, it really helps you learn and understand the material...plus I made $280 on my first study guide!"

#### "Their 'Elite Notetakers' are making over $1,200/month in sales by creating high quality content that helps their classmates in a time of need."

### Refund Policy

#### STUDYSOUP CANCELLATION POLICY

All subscriptions to StudySoup are paid in full at the time of subscribing. To change your credit card information or to cancel your subscription, go to "Edit Settings". All credit card information will be available there. If you should decide to cancel your subscription, it will continue to be valid until the next payment period, as all payments for the current period were made in advance. For special circumstances, please email support@studysoup.com

#### STUDYSOUP REFUND POLICY

StudySoup has more than 1 million course-specific study resources to help students study smarter. If you’re having trouble finding what you’re looking for, our customer support team can help you find what you need! Feel free to contact them here: support@studysoup.com

Recurring Subscriptions: If you have canceled your recurring subscription on the day of renewal and have not downloaded any documents, you may request a refund by submitting an email to support@studysoup.com

Satisfaction Guarantee: If you’re not satisfied with your subscription, you can contact us for further help. Contact must be made within 3 business days of your subscription purchase and your refund request will be subject for review.

Please Note: Refunds can never be provided more than 30 days after the initial purchase date regardless of your activity on the site.