Professional Documents
Culture Documents
Statistics
Lecture 2
Methods for Describing Sets of Data
Percent Frequency:
Percent frequency Re lative frequency 100
• Bar graph
• Pie chart
• Pareto diagram
Percent Frequency or %
Used
Also
Vertical Bars
Zero Point for Qualitative
Variables
Percent
Used
Also
0
MBA Bachelor's Master's None PhD None
10%
MBA
Bar graph Master's
39%
13%
Bachelor's
33%
14
12
10
0
MBA Bachelor's Master's None PhD Law
Pareto diagram
5.0-6.0 3
6.0-7.0 9
7.0-8.0 11
Frequency
8.0-9.0 9
9.0-10.0 8
10.0-11.0 4
11.0-12.0 3
12.0-13.0 0
13.0-14.0 3
TOTAL 50
5 13
Bars
Fall 2016-2017 MGT 205 24
Touch
Dot Plot
1. Horizontal axis is a scale for the quantitative variable,
e.g., percent.
2. The numerical value of each measurement is located
on the horizontal scale by a dot.
2 144677
Divide each observation
into stem value and leaf 26
3 028
value
• Stems are listed in
4 1
order in a column
• Leaf value is placed in
corresponding stem
row to right of bar
Fall 2016-2017 MGT 205 26
Summation Notation
åx i
i =1
å i =?
x 2
i=1
åi 1 2 3 4 5
x 2
= x 2
+ x 2
+ x 2
+ x 2
+ x 2
i =1
=5 +3 +8 +5 +4
2 2 2 2 2
= 25 + 9 + 64 + 25 + 16 = 139
Fall 2016-2017 MGT 205 29
Numerical Measures
of Central Tendency
$400,000
$70,000
Central Tendency
(Location)
Variation
(Dispersion)
n
x i x 1 x 2 … x
i 1 n
x
n n
Size n N
x i x1x2 x x x x6
i 1 3 4 5
x
n 6
10 .3 4.9 8.9 11.7 6.3 7.7
6
8.30
Fall 2016-2017 MGT 205 36
Median
1. Measure of central tendency
2. Middle value in ordered sequence
• If n is odd, middle value of sequence
• If n is even, average of two middle values
3. Position of median in sequence
n 1
Positioning Point
2
4. Not affected by extreme values
Fall 2016-2017 MGT 205 37
Median Example
Odd-Sized Sample
• Raw Data: 24.1 22.6 21.5 23.7 22.6
• Ordered: 21.5 22.6 22.6 23.7 24.1
• Position: 1 2 3 4 5
n 1 5 1
Positioning Point 3
2 2
Median 22 .6
Fall 2016-2017 MGT 205 38
Median Example
Even-Sized Sample
• Raw Data: 10.3 4.9 8.9 11.7 6.3 7.7
• Ordered: 4.9 6.3 7.7 8.9 10.3 11.7
• Position: 1 2 3 4 5 6
n 1 6 1
Positioning Point 3.5
2 2
7.7 8.9
Median 8.30
2
Fall 2016-2017 MGT 205 39
Mean and Median for the 50 R&D
Percentages
x i x 1 x 2 … x
x i 1 8
n 8
17 16 21 18 13 16 12 11
8
15 .5
Fall 2016-2017 MGT 205 47
Central Tendency Solution
Median
• Raw Data: 17 16 21 18 13 16 12 11
• Ordered: 11 12 13 16 16 17 18 21
• Position: 1 2 3 4 5 6 7 8
n 1 8 1
Positioning Point 4.5
2 2
16 16
Median 16
2
Fall 2016-2017 MGT 205 48
Central Tendency Solution
Mode
Raw Data: 17 16 21 18 13 16 12 11
Mode = 16