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11 Cards in this Set
- Front
- Back
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mean value
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the expected value of the random variable, x. it is a weighted average in which the possible values of x are weighted according to their probablilites of occurance
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mode
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the value that occurs with the greatest frequency in a set of data
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median
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a value that has just as many observations that are higher as it does observations that are lower. it is the second quartile
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skewness
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the condition in which a distribution tails off to either the left or the right, exhibiting a lack of symmetry
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positively skewed
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right skewed data
mean>Q2 |
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negatively skewed
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left skewed data
mean<Q2 |
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symmetrically skewed
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mean = Q2
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range
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the difference between the highest and lowest values in a set of data
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variance
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a measure of dispersion based on the squared differences between observed values and the mean
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standard deviation
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a measure of dispersion, calculated as the positive square root of the variance
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empirical rule
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for distributions that are bell-shaped and symmetrical, about 68% of the observations will fall within 1 standard deviation of the mean, with about 95% falling within 2 standard deviations, and practically all of the observations falling within 3 standard deviations of the mean
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