Free Essays on Median to Get Inspired & Learn by Example

Question 1

The measures of central tendency consist of the mean, median and mode and they act as a representative of the entire sample. The mean of a set of numbers is calculated by summing the individual’s terms of that set and dividing by the count of the set. The median is obtained by arranging the values in ascending or descending order and obtaining the middle value. The mode represents the number that occurs most in any set of data. In the case of grouped frequencies, then the mode is represented by the group with the highest frequency.

Question 2

The mean Continue reading...

Ticker: PHNX Current Stock Price: £8.56/share

One year stock performance
Valuation Summary
Price Performance
Analyst Recommendation
Introduction
Founded in the year 1792, Phoenix Group Holdings is one of the largest insurance companies in the United Kingdom. The company provides services related to consolidation of closed life assurance fund, management of pension funds and closed life funds in the United Kingdom. The company is listed on London Stock Exchange under the ticker symbol of ‘’PHNX’’, and was previously known as Pearl Loan Company, with name changed to Phoenix group Holdings in March, 2010.

Price Performance Analysis

The table below compares the stock performance of the company with that of Continue reading...

Statistical Test Proposal

Enabling accuracy in research findings requires the appropriate use of statistical tools to synthesize the collected data. For this problem oriented policing field test study, the chosen approach is the mixed methodology, which encompasses the use of both qualitative and quantitative methods. As such, the use of statistical tools is essential in drawing out the findings of the POP field test study. Descriptive statistics will be the primary tool to use in interpreting the gathered data.

Definition of Descriptive Statistics

In descriptive statistics, it is important to reduce the large amount of data into a more manageable size that the readers can easily Continue reading...

There are three main measures of the central tendency: mean, mode and median (Black 76). Andrew may chose all three measures. The mode or the most frequently occurred value is the highest measure, and if he wants to get the highest mark, he should choose the mode. Katherine and Shannon may only chose between the mean and the median. The mode cannot be calculated for the Katherine’s score, and the mode for Shannon’s score has the lowest value. The median for the Katherine’s scores is 65, and the mean is (10 + 50 + 65 + 80 + 85)/5 = Continue reading...

This analysis is considering the incidents of births with low infant weight through the use of health records from the North Carolina state center for health and environmental statistics. I will be interested in obtaining summary statistics for the variables contained in the dataset. Of particular interest is the birth weight of infants born by smoking mothers in comparison to birth weight of infants born to non-smoking mothers.
There are several variables under consideration and it would be of interest to explore these variables and there distributions first (univariate analysis) before we can do a comparison of the relationship Continue reading...

Compensation of Chief Executive Officers at Nonprofit US Hospitals

Introduction
Karen E. Joynt et al have carried out a research to determine the aspects of hospitals on which the CEO compensations were based in the case of nonprofit hospitals. Various aspects of the report are described below.

Data Collection Procedures and Instruments

Dependent Variables. The dependent variable was CEO compensations. The CEO compensations were a combination of compensation received from the primary organization; reportable compensation from related organizations such as foundations associated with the hospital and estimated other compensations. The compensations of all CEOs were adjusted for regional variations through the Medicare Wage Index (Joynt et al.).
Characteristics of the Independent Variables. The Continue reading...

Introduction

The company is interested in making one-sized shoes only and the data has been provided I will need to establish if the data is from a random variable before I proceed. It is important to observe the data for possible outliers which are clearly not from the sample for instance in a study to observe the number of youth between the ages of 15-25 engaged in smoking cigarettes a value of age maybe 81 will stand out as a data handling error. Someone may have been intending to enter 18 and in the rush they fail to realize that Continue reading...

Measures of central tendency

The mean, mode and median are called measures of central tendency.
The mean
The mean is also called the arithmetic mean. It is calculated by adding all the figures in a set of data and dividing the sum by the number of numbers in the data. Thus, the mean is calculated by the formula,
μ = ƩXN
Where μ denotes the mean, ƩX denotes the sum of figures in the data and N is the number of numbers in set of data. The mean helps to determine the closeness of the elements in from a central data. Mean is used because it Continue reading...

Frequency table

Figure 1 illustrates the frequency table.
Figure 1. The frequency table
The values are distributed among the range, and only the values 8.9 and 10.1 are repeated twice.

Histogram

The histogram displays the frequencies of the grouped values.
Figure 2. The histogram
The value of the highest bar indicates the mean value, which is about 12 $ million. The distribution is left asymmetric, namely the majority of the values are at the left side of the distribution.

Stem and leaf plot

Figure 3. The stem and leaf plot for the data

Apparently, the values close to 10 and 11 are the most frequent.

Sample mean and median
The mean calculates as the sum of all the values, Continue reading...

Statistics has two branches, the Bayesian and the Frequentist branches. The frequentist side primary concern is the efficiency. However, in certain populations, the mean can be very sensitive to extreme data points. The mean is best applicable to populations where information is symmetrically distributed i.e. when the data is plotted on a chart; a nice symmetrical shape can be achieved. In some instances, the mean can be thrown out by extreme values especially when the data being represented is not symmetrically distributed. At such instances, the mean is not the best measure of central tendency to use in such Continue reading...