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Advanced Quantitative Methods - Mean Mode

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15 views5 pages

Advanced Quantitative Methods - Mean Mode

Uploaded by

rystam971
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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STATISTICS

INTRODUCTION

Statistics is science of collecting, classifying, summarizing, organizing, analyzing, and


interpreting of numerical information.
Descriptive statistics utilizes numerical and graphical methods to look for patterns in a
data set, to summarize the information revealed in a data set, and to present the
information in a convenient form.
Inferential statistics utilizes sample data to make estimates, decisions, predictions, or
other generalizations about a larger set of data.

Quantitative (price in dollars, weight in kg) or qualitative/categorical (west-east-north-


south, yes-no) variables.

Scales of measurements:
Nominal scale – numbers are used simply as labels for groups or classes; rather
qualitative
Ordinal/score scale – data elements may be ordered according to their relative size or
quality
Interval scale – when we define the groups of data values within specified group
boundaries

Mathematical operations
Numerator / denominator
+ Add / addition / sum,
- subtract / subtraction / difference,
* multiply / multiplication / product,
: divide / division / quotient

Frequency = counts
Relative frequency – the count of the data points in the class divided by the total
number of data points
A class is one of the categories into which qualitative data can be classified
Frequency histogram
Measurements are arranged in ascending (descending) order
Lower/upper class limits

number of elements (counts) of range ni


cumulative counts ni,sk
relative frequency ωi = ni : N (N is total count of observations)
cumulative relative frequency ωi,sk

1
Intergroup Similarity coefficient: Wp =Σ min (ω1,i , ω2,i ) є (0,1)

Example
Two groups were asked a question with possible answers: strongly agree, agree,
unsure, disagree, strongly disagree. Are structures of answers in both groups
similar? As a data we have quantities of people who answered in given way
(frequencies in both groups).

i Answer Frequency Frequency of Relative Relative Min (wi1 ,


of the first the second Frequency of the Frequency of the wi2 )
group fi1 group fi2 first group wi1 second group wi2
1 Strongly 5 10 0,05=5/100 0,05=10/200 0,05
agree
2 Agree 25 20 0,25=25/100 0,10=20/200 0,10
3 Unsure 20 30 0,20=20/100 0,15=30/200 0,15
4 Disagree 30 80 0,30=30/100 0,40=80/200 0,30
5 Strongly 20 60 0,20=20/100 0,30=60/200 0,20
disagree
- Total 100 200 1 1 0,80

The result 0,80 is closer to 1 what means that answers in both groups are quite similar
(strongly similar).

2
Measures of central tendency

For theory presented below there will be analysis on three types of data
grouping

A) Raw scores (individual listings of data)


Set of stock exchange prices in ascending order (in zł)
18, 19, 20, 21, 21, 21, 22, 23, 24, 25

B) Frequency distribution
School marks (grades) as values, with student frequencies

Values x Frequencies Relative Cumulative Relative cumulative


frequencies [%] frequencies frequencies [%]
1 2 4 2 4
2 8 16 10=2+8 20=4+16
3 10 20 20=10+10 40=20+20
4 9 18 29=20+9 58=40+18
5 14 28 43=29+14 86=58+28
6 7 14 50=43+7 100=86+14
Total 50 100 - -

C) Grouped interval data


Wages in enterprise unit (in euros); left borders are opened (so it is without this
value) while wright hand interval limits are closed (means with that value), for
example, 1000 is in the first interval and not in the second

Intervals of Frequencies Relative frequencies Cumulative Relative cumulative


values [%] frequencies frequencies [%]
(0; 1000> 14 17,5%=14/80 14 17,5
(1000; 2000> 40 50%=40/80 54=14+40 67,5=17,5+50
(2000; 3000> 16 20%=16/80 70=54+16 87,5=67,5+20
(3000; 4000> 10 12,5%=10/80 80=70+10 100=87,5+12,5
Total 80 100%=1 - -

3
Mean (arithmetic mean) – an average of a set of observations

N k

X i  x  n  i i

simple series (sequences) X  i 1


; sets with frequencies X  i 1
k ;
N
n
i 1
i

k
o 
  X i  ni 
X  i 1  k  o
interval series ( X i midrange of class interval or class mark,
 ni i 1
ni number of values in class/interval, k – number of classes, read “x bar”) .

Attributes of the Mean


1) xmin < x < xmax
N
2)  x
i 1
i  x  0

3) X = (x1 , x2 , … , xN ), Y = (y1 , y2 , … , yN ):
X Y  X Y
N
where X  Y   ( x i  y i ) : N
i 1
N
4)  (x
i 1
i  C ) : N  X  C ; where C is any number
N
5)  (x
i 1
i  C) : N  X  C

A) arithmetic mean = (18+19+20+21+21+21+22+23+24+25)/10=21,40 zł


We just add all values and divide the sum by the total numer of values

B) arithmetic mean=(1*2+2*8+3*10+4*9+5*14+6*7)/50 = 3,92


One has to multiply every value by its frequency, to add all these products, and divide
by the total numer of values

C) arithmetic mean= (500*14 + 1500*40 + 2500*16+3500*10)/80 = 1775 euro


Or using relative frequencies
arithmetic mean= (500*0,175 + 1500*0,50 + 2500*0,20+3500*0,125) = 1775 euro
At this type of serie it is first multiplied midrange of every range by its frequency or
relative frequency

4
Geometric mean X G  N x1  x 2  ...  x N

Midrange = (xmax + xmin)/2 - is in the midway between minimal and maximal value
A) (25+18)/2 = 21,50
B) (6+1)/2=3,5
C) (4000+0)/2=2000

Mode of data set is the value that occurs most frequently

n D  n D 1
When the set of data is grouped in ranges: D  X DL  h
n D  n D 1   n D  n D 1  D
Notated as D or Mo
XDL – left-hand boundary of mode class
nD – counts/frequency of mode class
nD-1 – counts/frequency of class just before the mode class
nD+1 – counts/frequency of class just after the mode class
hD – height of mode range/class (or class width)

A) The most frequent value is 21 so it is Mode, Mo=21 zł

B) The most frequent value is 5 (its frequency is 14), so Mo=5

C) The highest frequency is in interval starting from 1000 (frequency is 40)


Mo=1000 + (40 – 14)/(40-14 + 40-16) * (2000-1000) = 1520 euro

Intervals of values Frequencies


(0; 1000> 14
(1000; 2000> 40
(2000; 3000> 16
(3000; 4000> 10
Total 80

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