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Title: Beyond the Basics of Measures of Variation
Description: This is a class lecture about Beyond the Basics of Measures of Variation. You can learn about the following: • Range Rule of Thumb • Range Rule of Thumb for Estimating Standard Deviation s • Properties of the Standard Deviation • The Empirical Rule • Chebyshev’s Theorem • Comparing Variation in Different Samples • Coefficient of Variation
Description: This is a class lecture about Beyond the Basics of Measures of Variation. You can learn about the following: • Range Rule of Thumb • Range Rule of Thumb for Estimating Standard Deviation s • Properties of the Standard Deviation • The Empirical Rule • Chebyshev’s Theorem • Comparing Variation in Different Samples • Coefficient of Variation
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BEYOND THE BASICS OF
MEASURES OF
VARIATION
(Class Lecture in Statistics)
Part 6
3
...
3
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1 - 3
Range Rule of Thumb
minimum “usual” value
= (mean) – 2 (standard deviation)
x 2s
3
...
1 - 5
Range Rule of Thumb
Usual values fall between the
maximum and minimum usual
values:
x 2s x x 2s
Otherwise the value is unusual
3
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1 - 7
Example: Standard Deviation
Data (kg):
11 3 0 -2 3 -2 -2 5 -2
7 2 4 1 8 1 0 -5 2
Range rule of thumb:
11 (5) 16
s
4 kg
4
4
3
...
1 - 9
Properties of the
Standard Deviation
•
For many data sets, a value is
unusual if it differs from the mean
by more than two standard
deviations
• Compare standard deviations of
two different data sets only if the
they use the same scale and units,
and they have means that are
approximately the same
3
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7) Rule
For data sets having a distribution that is
approximately bell shaped, the following
properties apply:
About 68% of all values fall within 1
standard deviation of the mean
...
About 99
...
3
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1 - 12
The Empirical Rule
3
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1 - 14
Chebyshev’s Theorem
The proportion (or fraction) of any set of
data lying within K standard deviations of
the mean is always at least 1–1/K2, where K
is any positive number greater than 1
...
For K = 3, at least 8/9 (or 89%) of all
values lie within 3 standard deviations
of the mean
...
1 - 15
Comparing Variation in
Different Samples
It’s a good practice to compare two sample
standard deviations with s only when the
sample means are approximately the
same
...
3
...
Sample
CV =
s · 100%
x
Population
CV =
s
· 100%
m
3
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1 - 18
Rationale for using n – 1
versus n
There are only n – 1 independent
values
...
3
...
It causes s2 to
target 2 whereas division by n
causes s2 to underestimate 2
...
1 - 20
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3
Title: Beyond the Basics of Measures of Variation
Description: This is a class lecture about Beyond the Basics of Measures of Variation. You can learn about the following: • Range Rule of Thumb • Range Rule of Thumb for Estimating Standard Deviation s • Properties of the Standard Deviation • The Empirical Rule • Chebyshev’s Theorem • Comparing Variation in Different Samples • Coefficient of Variation
Description: This is a class lecture about Beyond the Basics of Measures of Variation. You can learn about the following: • Range Rule of Thumb • Range Rule of Thumb for Estimating Standard Deviation s • Properties of the Standard Deviation • The Empirical Rule • Chebyshev’s Theorem • Comparing Variation in Different Samples • Coefficient of Variation