Lessons
- Descriptive Vs. Inferential Statistics
- Types of Measurement Scales
- Parameter, Sample Statistic, and Frequency Distribution
- Relative Frequencies and Cumulative Relative Frequencies
- Properties of a Data Set (Histogram / Frequency Polygon)
- Measures of Central Tendency
- Calculating Arithmetic Mean
- Calculating Weighted Average Mean
- Calculating Geometric Mean
- Calculating Harmonic Mean
- Calculating Median and Mode of a Data Set
- Quartiles, Quintiles, Deciles, and Percentiles
- Range and Mean Absolute Deviation
- Variance and Standard Deviation
- Chebyshev’s Inequality
- Coefficient of Variation
- Sharpe Ratio
- Skewness and Kurtosis
- Relative Locations of Mean, Median and Mode
Measures of Central Tendency
The measures of central tendency identify what is the center of a data set. These are the most widely used tools among all the statistical measures. The most commonly used measures of central tendency include: arithmetic mean, geometric mean, weighted average mean, median and mode.
We will use the following data set to calculate all these measures:
1.5, 2.5, 3, 2.3, 4.3, 5.6, 4.2, 6.7, 5.9, 1.2, 5.4, 9.8, 8.5, 5.5, 2.9, 1.7, 8.8, 6.2, 9.5, 3.8
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