About This Chapter
Descriptive Statistics: Measurement - Chapter Summary
These informative lessons on descriptive statistics cover how to calculate an arithmetic mean, measures of central tendency, the interquartile range and much more. Each fun lesson is accompanied by a multiple-choice quiz so you can test your knowledge after reviewing the material. Or, take the quiz before you work through the lesson as a great test prep exercise. Around-the-clock access makes it easy to study whenever your schedule permits. After completing this chapter, you will be ready to do the following:
- Utilize the formulas for arithmetic and geometric mean
- Calculate median, mode, mean and range
- Define quartiles and the interquartile range
- Share examples of deciles in a data set
- Find percentiles in a data set
- Explain how to use the IF function in Excel
- Exhibit knowledge of the measures of central tendency
1. Measures of Central Tendency: Definitions & Practice
After watching this video, you will be able to explain the meaning of the terms central tendency, mode, mean and median. You will also be able to calculate these three values from provided data. A short quiz will follow.
2. Arithmetic Mean: Definition, Formula & Example
In this lesson, we will learn about the arithmetic mean, which is a quantity that is used in a wide variety of applications, such as science, engineering, medicine, statistics and finance.
3. Geometric Mean: Definition and Formula
Watch this video lesson to learn how different the geometric mean is from the arithmetic mean, or average, that we are all so familiar with. Learn in what circumstance the geometric mean is preferred. Also, learn the formula and how to use it.
4. How to Calculate Mean, Median, Mode & Range
Measures of central tendency can provide valuable information about a set of data. In this lesson, explore how to calculate the mean, median, mode and range of any given data set.
5. Quartiles & the Interquartile Range: Definition, Formulate & Examples
Quartiles and the interquartile range can be used to group and analyze data sets. In this lesson, learn the definition and steps for finding the quartiles and interquartile range for a given data set.
6. Deciles in a Data Set: Definition, Formula & Examples
When faced with large amounts of data, it's often useful to group the data prior to further analysis. Given that we work with a base ten number system, it's logical that we might want to use divisions of 10, or deciles, as a basic form of numerical grouping.
7. Finding Percentiles in a Data Set: Formula & Examples
Percentiles are often used in academics to compare student scores. Finding percentiles in a data set can be a useful way to organize and compare numbers in a data set.
8. Using the IF Function in Excel
After watching this video lesson, you will learn how you can use the IF function in Excel to help you analyze your data to get the results that you want. Learn how you can use the IF function and how to set it up.
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Other chapters within the Business 212: Business Statistics course
- Introduction to Business Statistics
- Introduction to Categorical Data
- Descriptive Statistics: Representation
- Measures of Dispersion in Business
- Measures of Association & Correlation in Business
- Probability for Business Statistics
- Probability Distributions for Business Statistics
- Sampling Methods for Statistics
- Confidence Intervals
- Hypothesis Testing in Business
- Analysis of Variance
- Nonparametric Methods in Statistics
- Regression Analysis
- Understanding Business Forecasting
- Using Control Charts in Business