6th Edition

ISBN: 9781259957598

Author: DOANE

Publisher: RENT MCG

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A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

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Chapter 4.4, Problem 31SE

An exam has a mean of 70 with a standard deviation of 10. Use Chebyshev’s Theorem to find a lower bound for the number of students in a class of 400 who scored between 50 and 90.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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Chapter 4.4, Problem 30SE

Chapter 4.4, Problem 32SE

Chapter 4 Solutions

APPLIED STAT.IN BUS.+ECONOMICS

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An exam has a mean of 70 with a standard deviation of 10. Use Chebyshev’s Theorem to find a lower bound for the number of students in a class of 400 who scored between 50 and 90.

Solution Summary: The author explains Chebyshev's Theorem, which states that 75% of observations fall within 2 standard deviations of mean.

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Chapter 4 Solutions