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Straighterline Business Statistics - Chapter 3 – Questions with 100% Scores
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Straighterline Business Statistics - Chapter 3 – Questions with 100% Scores
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Straighterline Business Statistics -Chapter 3 – Questions with 100% Scores
Parameter - - A characteristic of a population.
- population mean - - population mean = sum of all the values in the
population / number of values in the population
- sample mean - - "x bar"
sample mean = sum of all the values in the sample / number of values in the
sample
- statistic - - A characteristic of a sample.
- arithmetic mean - - A widely used measure of location. There are three
properties:
1. Every set of interval level or ratio level data has a mean.
2. All of the values are included in computing the mean.
3. The mean is unique, there is only one.
4. The sum of the deviation of each vale from the mean is zero.
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