This document provides an overview of descriptive statistics concepts including measures of central tendency (mean, median, mode), measures of variability (range, standard deviation, variance), and how to compute them from both ungrouped and grouped data. It defines key terms like mean, median, mode, percentiles, quartiles, range, standard deviation, variance, and coefficient of variation. It also discusses how standard deviation can be used to measure financial risk and the empirical rule and Chebyshev's theorem for interpreting standard deviation.
Measurements of study variables (Basic Course in Biomedical Research)Drhasanabbas
Measurement of study variables is a critical process in research design that ensures the accurate quantification of constructs under investigation. This section outlines the methods, tools, and scales used to assess each variable in the study. By standardizing the measurement process, researchers ensure data reliability, validity, and comparability.
This document discusses measures of dispersion and the normal distribution. It defines measures of dispersion as ways to quantify the variability in a data set beyond measures of central tendency like mean, median, and mode. The key measures discussed are range, quartile deviation, mean deviation, and standard deviation. It provides formulas and examples for calculating each measure. The document then explains the normal distribution as a theoretical probability distribution important in statistics. It outlines the characteristics of the normal curve and provides examples of using the normal distribution and calculating z-scores.
This document discusses various summary measures used to describe data, including measures of central tendency (mean, median, mode), variation (variance, standard deviation, range, interquartile range), and relative variation (coefficient of variation). It provides formulas and examples of how to calculate and interpret these measures. Key summary statistics covered are the mean, median, mode, variance, standard deviation, range, quartiles, and coefficient of variation.
This document discusses various methods for summarizing data, including measures of central tendency, dispersion, and categorical data. It describes the mean, median, and mode as measures of central tendency, and how the mean can be affected by outliers while the median is not. Measures of dispersion mentioned include range, standard deviation, variance, and interquartile range. The document also discusses percentiles, standard error, and 95% confidence intervals. Key takeaways are to select appropriate summaries based on the data type and distribution.
This document summarizes various statistical measures used to analyze and describe data distributions, including measures of central tendency (mean, median, mode), dispersion (range, standard deviation, variance), skewness, and kurtosis. It provides formulas and methods for calculating each measure along with interpretations of the results. Measures of central tendency provide a single value to represent the center of the data set. Measures of dispersion describe how spread out or varied the data values are. Skewness and kurtosis measure the symmetry and peakedness of distributions compared to the normal curve.
Basic Statistical Descriptions of Data.pptxAnusuya123
This document provides an overview of 7 basic statistical concepts for data science: 1) descriptive statistics such as mean, mode, median, and standard deviation, 2) measures of variability like variance and range, 3) correlation, 4) probability distributions, 5) regression, 6) normal distribution, and 7) types of bias. Descriptive statistics are used to summarize data, variability measures dispersion, correlation measures relationships between variables, and probability distributions specify likelihoods of events. Regression models relationships, normal distribution is often assumed, and biases can influence analyses.
Measures of Central Tendency, Variability and ShapesScholarsPoint1
The PPT describes the Measures of Central Tendency in detail such as Mean, Median, Mode, Percentile, Quartile, Arthemetic mean. Measures of Variability: Range, Mean Absolute deviation, Standard Deviation, Z-Score, Variance, Coefficient of Variance as well as Measures of Shape such as kurtosis and skewness in the grouped and normal data.
This document summarizes various statistical measures used to describe and analyze numerical data, including measures of central tendency (mean, median, mode), measures of variation (range, interquartile range, variance, standard deviation, coefficient of variation), and ways to describe the shape of distributions (symmetric vs. skewed using box-and-whisker plots). It provides definitions and formulas for calculating these common statistical concepts.
This document discusses various statistical measures for summarizing and describing numerical data, including measures of central tendency (mean, median, mode, midrange, quartiles), measures of variation (range, interquartile range, variance, standard deviation, coefficient of variation), and shape of distributions (symmetric vs. skewed). It provides definitions and formulas for calculating each measure and describes how to interpret them. Box-and-whisker plots are introduced as a graphical way to display data using the median, quartiles, and range.
1. The document discusses key concepts in biostatistics including measures of central tendency, dispersion, correlation, regression, and sampling.
2. Measures of central tendency described are the mean, median, and mode. Measures of dispersion include range, standard deviation, and quartile deviation.
3. The importance of statistical analysis for living organisms in areas like medicine, biology and public health is highlighted. Examples are provided to demonstrate calculation of statistical measures.
This document discusses descriptive statistics for one variable. Descriptive statistics summarize and describe data through measures of central tendency (mean, median, mode), variability (variance, standard deviation), and relative standing (percentiles). The mean is the average value, the median is the middle value, and the mode is the most frequent value. Variance and standard deviation describe how spread out the data is. Percentiles indicate what percentage of values are below a given number. Examples are provided to demonstrate calculating and interpreting these common descriptive statistics.
The document discusses various measures of variability that can be used to describe the spread or dispersion of data, including the range, interquartile range, mean absolute deviation, variance, standard deviation, and coefficient of variation. It also covers how to calculate and interpret these measures of variability for both ungrouped and grouped data. Various other concepts are introduced such as the empirical rule, z-scores, skewness, the 5-number summary, and how to construct and interpret a box-and-whisker plot.
STATISTICS.pptx for the scholars and studentsssuseref12b21
The document provides an overview of statistics, including definitions, types, and key concepts. It defines statistics as the science of collecting, presenting, analyzing, and interpreting data. It discusses descriptive statistics, which summarize and organize raw data, and inferential statistics, which allow generalization from samples to populations. The document also covers variables, scales of measurement, measures of central tendency (mean, median, mode), measures of dispersion (range, standard deviation), and other statistical terminology.
This document discusses various measures of central tendency including the mean, median, and mode. It defines each measure and provides examples of how to calculate them for both grouped and ungrouped data. The mean is the sum of all values divided by the number of values and is the most widely used measure. The median is the middle value when data is ordered from lowest to highest. The mode is the most frequently occurring value. The document compares the properties of each measure and how they are affected by outliers. It also discusses when each measure is most appropriate to use.
This document discusses measures of dispersion, which indicate how spread out or variable a set of data is. There are three main measures: the range, which is the difference between the highest and lowest values; the semi-interquartile range (SIR), which is the difference between the first and third quartiles divided by two; and variance/standard deviation. Variance is the average of the squared deviations from the mean, while standard deviation is the square root of the variance. These measures provide summaries of how concentrated or dispersed the observed values are from the average or expected value.
This document discusses various measures of central tendency including the mean, median, and mode. It provides definitions and formulas for calculating each measure. The mean is the sum of all values divided by the number of values and is the most widely used measure. The median is the middle value when data is arranged from lowest to highest. The mode is the value that occurs most frequently. Examples are given demonstrating how to calculate each measure for both individual values and grouped data.
This document discusses various measures used to describe data, including measures of central tendency (mean, median, mode) and measures of variation (range, variance, standard deviation). It provides definitions and formulas for calculating different statistical measures, along with their properties and appropriate uses. Measures of central tendency indicate the central or typical value of a data set, while measures of variation describe how spread out or dispersed the data are around the central value. The document compares absolute and relative measures and discusses specific measures like range, quartile deviation, average deviation, and standard deviation.
The document discusses various measures of central tendency used in statistics. The three most common measures are the mean, median, and mode. The mean is the sum of all values divided by the number of values and is affected by outliers. The median is the middle value when data is arranged from lowest to highest. The mode is the most frequently occurring value in a data set. Each measure has advantages and disadvantages depending on the type of data distribution. The mean is the most reliable while the mode can be undefined. In symmetrical distributions, the mean, median and mode are equal, but the mean is higher than the median for positively skewed data and lower for negatively skewed data.
This document discusses measures of central tendency and variation for numerical data. It defines and provides formulas for the mean, median, mode, range, variance, standard deviation, and coefficient of variation. Quartiles and interquartile range are introduced as measures of spread less influenced by outliers. The relationship between these measures and the shape of a distribution are also covered at a high level.
The document summarizes key concepts in describing data with numerical measures from a statistics textbook chapter. It covers measures of center including mean, median, and mode. It also covers measures of variability such as range, variance, and standard deviation. It provides examples of calculating these measures and interpreting them, as well as using them to construct box plots.
indonesia-gen-z-report-2024 Gen Z (born between 1997 and 2012) is currently t...disnakertransjabarda
Gen Z (born between 1997 and 2012) is currently the biggest generation group in Indonesia with 27.94% of the total population or. 74.93 million people.
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Measures of Central Tendency, Variability and ShapesScholarsPoint1
The PPT describes the Measures of Central Tendency in detail such as Mean, Median, Mode, Percentile, Quartile, Arthemetic mean. Measures of Variability: Range, Mean Absolute deviation, Standard Deviation, Z-Score, Variance, Coefficient of Variance as well as Measures of Shape such as kurtosis and skewness in the grouped and normal data.
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This document discusses various statistical measures for summarizing and describing numerical data, including measures of central tendency (mean, median, mode, midrange, quartiles), measures of variation (range, interquartile range, variance, standard deviation, coefficient of variation), and shape of distributions (symmetric vs. skewed). It provides definitions and formulas for calculating each measure and describes how to interpret them. Box-and-whisker plots are introduced as a graphical way to display data using the median, quartiles, and range.
1. The document discusses key concepts in biostatistics including measures of central tendency, dispersion, correlation, regression, and sampling.
2. Measures of central tendency described are the mean, median, and mode. Measures of dispersion include range, standard deviation, and quartile deviation.
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This document discusses descriptive statistics for one variable. Descriptive statistics summarize and describe data through measures of central tendency (mean, median, mode), variability (variance, standard deviation), and relative standing (percentiles). The mean is the average value, the median is the middle value, and the mode is the most frequent value. Variance and standard deviation describe how spread out the data is. Percentiles indicate what percentage of values are below a given number. Examples are provided to demonstrate calculating and interpreting these common descriptive statistics.
The document discusses various measures of variability that can be used to describe the spread or dispersion of data, including the range, interquartile range, mean absolute deviation, variance, standard deviation, and coefficient of variation. It also covers how to calculate and interpret these measures of variability for both ungrouped and grouped data. Various other concepts are introduced such as the empirical rule, z-scores, skewness, the 5-number summary, and how to construct and interpret a box-and-whisker plot.
STATISTICS.pptx for the scholars and studentsssuseref12b21
The document provides an overview of statistics, including definitions, types, and key concepts. It defines statistics as the science of collecting, presenting, analyzing, and interpreting data. It discusses descriptive statistics, which summarize and organize raw data, and inferential statistics, which allow generalization from samples to populations. The document also covers variables, scales of measurement, measures of central tendency (mean, median, mode), measures of dispersion (range, standard deviation), and other statistical terminology.
This document discusses various measures of central tendency including the mean, median, and mode. It defines each measure and provides examples of how to calculate them for both grouped and ungrouped data. The mean is the sum of all values divided by the number of values and is the most widely used measure. The median is the middle value when data is ordered from lowest to highest. The mode is the most frequently occurring value. The document compares the properties of each measure and how they are affected by outliers. It also discusses when each measure is most appropriate to use.
This document discusses measures of dispersion, which indicate how spread out or variable a set of data is. There are three main measures: the range, which is the difference between the highest and lowest values; the semi-interquartile range (SIR), which is the difference between the first and third quartiles divided by two; and variance/standard deviation. Variance is the average of the squared deviations from the mean, while standard deviation is the square root of the variance. These measures provide summaries of how concentrated or dispersed the observed values are from the average or expected value.
This document discusses various measures of central tendency including the mean, median, and mode. It provides definitions and formulas for calculating each measure. The mean is the sum of all values divided by the number of values and is the most widely used measure. The median is the middle value when data is arranged from lowest to highest. The mode is the value that occurs most frequently. Examples are given demonstrating how to calculate each measure for both individual values and grouped data.
This document discusses various measures used to describe data, including measures of central tendency (mean, median, mode) and measures of variation (range, variance, standard deviation). It provides definitions and formulas for calculating different statistical measures, along with their properties and appropriate uses. Measures of central tendency indicate the central or typical value of a data set, while measures of variation describe how spread out or dispersed the data are around the central value. The document compares absolute and relative measures and discusses specific measures like range, quartile deviation, average deviation, and standard deviation.
The document discusses various measures of central tendency used in statistics. The three most common measures are the mean, median, and mode. The mean is the sum of all values divided by the number of values and is affected by outliers. The median is the middle value when data is arranged from lowest to highest. The mode is the most frequently occurring value in a data set. Each measure has advantages and disadvantages depending on the type of data distribution. The mean is the most reliable while the mode can be undefined. In symmetrical distributions, the mean, median and mode are equal, but the mean is higher than the median for positively skewed data and lower for negatively skewed data.
This document discusses measures of central tendency and variation for numerical data. It defines and provides formulas for the mean, median, mode, range, variance, standard deviation, and coefficient of variation. Quartiles and interquartile range are introduced as measures of spread less influenced by outliers. The relationship between these measures and the shape of a distribution are also covered at a high level.
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Bram Vanschoenwinkel is a Business Architect at AE. Bram first heard about process mining in 2008 or 2009, when he was searching for new techniques with a quantitative approach to process analysis. By now he has completed several projects in payroll accounting, public administration, and postal services.
The discovered AS IS process models are based on facts rather than opinions and, therefore, serve as the ideal starting point for change. Bram uses process mining not as a standalone technique but complementary and in combination with other techniques to focus on what is really important: Actually improving the process.
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Tijn van der Heijden is a business analyst with Deloitte. He learned about process mining during his studies in a BPM course at Eindhoven University of Technology and became fascinated with the fact that it was possible to get a process model and so much performance information out of automatically logged events of an information system.
Tijn successfully introduced process mining as a new standard to achieve continuous improvement for the Rabobank during his Master project. At his work at Deloitte, Tijn has now successfully been using this framework in client projects.
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Have you heard of something called 'Decision Tree'? It's a simple concept which you can use in life to make decisions. Believe you me, AI also uses it.
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Lalit Wangikar, a partner at CKM Advisors, is an experienced strategic consultant and analytics expert. He started looking for data driven ways of conducting process discovery workshops. When he read about process mining the first time around, about 2 years ago, the first feeling was: “I wish I knew of this while doing the last several projects!".
Interviews are subject to all the whims human recollection is subject to: specifically, recency, simplification and self preservation. Interview-based process discovery, therefore, leaves out a lot of “outliers” that usually end up being one of the biggest opportunity area. Process mining, in contrast, provides an unbiased, fact-based, and a very comprehensive understanding of actual process execution.
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Mitchell Cunningham is a process analyst with experience across the business process management lifecycle. He has a particular interest in process performance measurement and the integration of process performance data into existing process management methodologies.
Suncorp has an established BPM team and a single claims-processing IT platform. They have been integrating process mining into their process management methodology at a range of points across the process lifecycle. They have also explored connecting process mining results to service process outcome measures, like customer satisfaction. Mitch gives an overview of the key successes, challenges and lessons learned.
Frank van Geffen is a Business Analyst at the Rabobank in the Netherlands. The first time Frank encountered Process Mining was in 2002, when he graduated on a method called communication diagnosis. He stumbled upon the topic again in 2008 and was amazed by the possibilities.
Frank shares his experiences after applying process mining in various projects at the bank. He thinks that process mining is most interesting for the Process manager / Process owner (accountable for all aspects of the complete end to end process), the Process Analyst (responsible for performing the process mining analysis), the Process Auditor (responsible for auditing processes), and the IT department (responsible for development/aquisition, delivery and maintanance of the process mining software).
How to regulate and control your it-outsourcing provider with process miningProcess mining Evangelist
Oliver Wildenstein is an IT process manager at MLP. As in many other IT departments, he works together with external companies who perform supporting IT processes for his organization. With process mining he found a way to monitor these outsourcing providers.
Rather than having to believe the self-reports from the provider, process mining gives him a controlling mechanism for the outsourced process. Because such analyses are usually not foreseen in the initial outsourcing contract, companies often have to pay extra to get access to the data for their own process.
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2. Arithmetic Mean
Median
Mode
Approach of describing numerical data
Variance
Standard Deviation
Coefficient of Variation
Range
Interquartile Range
Central Tendency Variation
3. Central Tendency
• Numerical central value of a set observation is called measures of central
tendency.
• It is a central or typical value for a probability distribution.
• It may also be called a center or location of the distribution.
• Measures of central tendency:
Mean
Median
Mode
4. Measures of Central Tendency
Central Tendency
Mean Median Mode
n
x
x
n
1
i
i
Midpoint of
ranked values
Most frequently
observed value
Arithmetic
average
5. Mean
Mean is a single and typical value used to represent a set of data. It also
referred as the average.
Objective:
• To get a single value that represents the entire data
• To facilitate the comparison between groups of data of similar nature
Classification of mean
• Arithmetic Mean (AM)
• Geometric Mean (GM)
• Harmonic Mean (HM)
6. Arithmetic Mean
The arithmetic mean (mean) is the most common measure of central tendency
• For a population of N values:
• For a sample of size n:
Sample size
n
x
x
x
n
x
x n
2
1
n
1
i
i
Observed
values
N
x
x
x
N
x
μ N
2
1
N
1
i
i
Population size
Population
values
7. Arithmetic Mean
• The most common measure of central tendency
• Mean = sum of values divided by the number of values
• Affected by extreme values (outliers)
0 1 2 3 4 5 6 7 8 9 10
Mean = 3
0 1 2 3 4 5 6 7 8 9 10
Mean = 4
3
5
15
5
5
4
3
2
1
4
5
20
5
10
4
3
2
1
8. Properties of mean
• It takes all observations into account reflecting the value
• It is used in other statistical tools
• It is most reliable for drawing inferences
• It is the easiest to use in advanced statistics technique
9. Limitations of mean
• Highly affected by extreme values, even just one extreme value
• Sometimes negative and zero values can not be counted
10. Median
In an ordered list, the median is the “middle” number (50% above, 50%
below)
• It is not affected by extreme values
0 1 2 3 4 5 6 7 8 9 10
Median = 3
0 1 2 3 4 5 6 7 8 9 10
Median = 3
11. Median
• It is the middle value of a set of numbers which have been ordered by
magnitude
• The median is also the number that is halfway into the set.
• The location of the median:
• If the number of values is odd, the median is the middle number
• If the number of values is even, the median is the average of the two middle
numbers
12. Median
For grouped frequency
Where,
L = lower limit of the median class
N = total number of observations
F = cumulative frequency of preceding median class
fm = frequency of the median class
C = class interval of the median class
14. Properties of median
• Not affected by extreme value
• Perfect statistical example for skewed distribution
• Can be calculated from frequency distribution
• It is not influenced by the position of items
Limitations of median
• It is not based on all observations
• Compared to mean it is less reliable
• Not suitable for further analysis
15. Mode
• The mode is the value of a data set that occurs most frequently.
• It is the commonly observed value which occurs maximum number
times
16. Mode
• A measure of central tendency
• Value that occurs most often
• Not affected by extreme values
• Used for either numerical or categorical data
• There may be no mode
• There may be several modes
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Mode = 9
0 1 2 3 4 5 6
No Mode
18. SBP Range (mmHg) Frequency
101-105 2
106-110 3
111-115 5
116-120 8
121-125 6
126-130 4
131-135 2
136-140 1
l = 116
f1 = 8
f0 = 5
f2 = 6
h = 5
119
19. SBP Range (mmHg) Frequency
101-105 2
106-110 3
111-115 5
116-120 8
121-125 6
126-130 4
131-135 8
136-140 1
L = 131
f1 = 8
f0 = 4
f2 = 1
h = 5
132.82
20. Properties of mode
• Not affected by extreme value
• For large number of data, mode happens to be
meaningful as an average
• Can be calculated from frequency distribution
• Do not affected by small and large numbers
• It is not based on all observations
• Compared to mean it is less reliable
• Not suitable for further advanced analysis
Limitations of mode
21. • Mean is generally used, unless extreme values (outliers) exist
• Then median is often used, since the median is not sensitive to
extreme values.
Which one is the “best” measurement?
22. Dispersions/variability
• Dispersions are the measures of extent of deviation of individual from
the central value (average).
• It determines how much representative the central value is.
• It may be small if the values are closely bunched about their mean and
it is large when the values are scattered widely about their mean.
23. • To determine the reliability of an average
• For controlling the variability
• For comparing two or more series of data regarding their variability
• For facilitating the use of other statistical measures
Objectives of Dispersions Measurement
24. • It should be rigidly defined
• It should be easy to calculate and easy to understand
• It should be based on all observations
• It should be suitable for further mathematical treatment
• It should be affected as little as possible to the sampling fluctuation
Characteristics of a good measure of
Dispersions
25. Shape of a Distribution
• Describes how data are distributed
• Measures of shape: Symmetric or skewed
Mean = Median
Mean < Median Median < Mean
Right-Skewed
Left-Skewed Symmetric
26. Same center,
different variation
Measures of Variability
Variation
Variance Standard
Deviation
Coefficient
of Variation
Range Interquartile
Range
Measures of variation give
information on the spread or
variability of the data values
27. Range
• Simplest measure of variation
• Difference between the largest and the smallest
observations:
Range = Xlargest – Xsmallest
0 1 2 3 4 5 6 7 8 9 10 11 12 13 14
Range = 14 - 1 = 13
Example:
28. • Ignores the way in which data are distributed
• Sensitive to outliers
7 8 9 10 11 12
Range = 12 - 7 = 5
7 8 9 10 11 12
Range = 12 - 7 = 5
Characteristics of the Range
1,1,1,1,1,1,1,1,1,1,1,2,2,2,2,2,2,2,2,3,3,3,3,4,5
1,1,1,1,1,1,1,1,1,1,1,2,2,2,2,2,2,2,2,3,3,3,3,4,120
Range = 5 - 1 = 4
Range = 120 - 1 = 119
29. Quartiles
Quartiles split the ranked data into 4 segments with an equal number of values
per segment
25% 25% 25% 25%
The first quartile, Q1, is the value for which 25% of the observations
are smaller and 75% are larger
Q2 is the same as the median (50% are smaller, 50% are larger)
Only 25% of the observations are greater than the third quartile
Q1 Q2 Q3
30. Quartile Formulas
Find a quartile by determining the value in the appropriate
position in the ranked data, where
First quartile position: Q1 = 0.25(n+1)
Second quartile position: Q2 = 0.50(n+1)
(median)
Third quartile position: Q3 = 0.75(n+1)
where n is the number of observed values
31. (n = 9)
Q1 = is in the 0.25(9+1) = 2.5 position of the ranked data
so use the value half-way between the 2nd
and 3rd
values,
Q1 = 12.5
Quartiles
Sample Ranked Data: 11 12 13 16 16 17 18 21 22
Example: Find the first, second and third quartiles
second and third quartiles ??
33. Variance
Variance measures how far each number in the set is from the mean.
It is calculated by
• taking the differences between each number in the set and the mean
• squaring the differences
• dividing the sum of the squares by the number of values in the set.
34. Standard deviation
• It is a measure of how spread-out numbers are. Its symbol is σ. It is the
square root of the deviations of individual items from their arithmetic
mean.
35. • 8, 9, 11, 12 Ava. = 10
• 18, 19, 2, 1 Ava. = 10
• Calculate standard deviation, consider a sample of IQ scores given by
96, 104, 126, 134 and 140.
36. Examples
Calculate standard deviation, consider a sample of IQ scores given by 96,
104, 126, 134 and 140.
The mean of this data is (96+104+126+134+140)/5 =120.
σ = √[ ∑(x-120)^2 / 5 ]
The deviation from the mean is given by
96-120 = -24,
104-120 = -16,
126-120 = 6,
134-120 = 14,
140-120 = 20.
σ = √[ ((-24)^2+(-16)^2+(6)^2+(14)^2+(20)^2) / 5 ]
σ = √[ (1464) / 5 ] = ± 17.11
37. Comparing Standard Deviations
Mean = 15.5
s = 3.338
11 12 13 14 15 16 17 18 19 20 21
11 12 13 14 15 16 17 18 19 20 21
Data B
Data A
Mean = 15.5
s = 0.926
11 12 13 14 15 16 17 18 19 20 21
Mean = 15.5
s = 4.570
Data C
39. Standard Deviation
• Most commonly used measure of variation
• Each value in the data set is used in the calculation
• Shows variation from the mean
• Has the same units as the original data
• It cannot be negative.
• A standard deviation close to 0 indicates that the data points tend to be close
to the mean.
• The further the data points are from the mean, the greater the standard
deviation
40. Important Note
• Standard deviation of sample data of a population
• Variance of sample data of a population
41. Coefficient of Variation
• Measures relative variation
• Always in percentage (%)
• Shows variation relative to mean
• Can be used to compare two or more sets of data
measured in different units
100%
x
s
CV
42. Comparing Coefficient of Variation
• Stock A:
• Average price last year = $50
• Standard deviation = $5
• Stock B:
• Average price last year = $100
• Standard deviation = $5
Both stocks
have the same
standard
deviation, but
stock B is less
variable relative
to its price
10%
100%
$50
$5
100%
x
s
CVA
5%
100%
$100
$5
100%
x
s
CVB
43. Measure of Locations of Data
Percentiles
• Percentile is a measure of position in a set of observations.
• It is a number where a certain percentage of scores fall below that
percentile.
• It is a measure used in statistics indicating the value below which a
given percentage of observations in a group of observations falls.
For example, the 29th percentile is the value of a variable such that
29% of the observations are less than the value and 71% of the
observations are greater.
44. • Suppose, you got 80th
percentile on GRE analytical score, that means
80% of GRE test taker have marks less than you and 20% of GRE test
taker have more marks than you.
45. • Standard error (SE) is the standard deviation of the sampling
distribution of a statistic.
• If the statistic is the sample mean, it is called the standard error of the
mean (SEM)
Standard Error of the sample mean
Standard error of the mean is a
measure of the dispersion of sample
means around population mean
46. Find out the standard error among the following data
Exercise
Drug
Concentration
(μg/ml)
Absorption Mean ± SE
25
0.286
??
0.214
0.255
50
0.482
??
0.510
0.524
100
1.119
??
1.225
1.316
49. Practical problems
1. Find the mean, median & mood of each of the following sets of blood
pressure reading
145, 146, 148, 146, 145, 147, 144, 144, 138, 142, 140, 152, 160, 158,
148, 148.
2. Calculate the appropriate average for prolactin levels (ng/L) obtained
during a clinical trial involving 10 subjects, 9.4, 7.0, 7.6, 6.7, 6.3, 8.6,
6.8, 10.6, 8.9, 9.4