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4 cards from this section. Quick, good the night before a test.
What is the mean of the following data: 2, 3, 5, 7, and 10?
Add all values together, then divide by the number of values.
Define primary data.
Think about examples where data is fresh and original.
What measures how far values are spread from the mean?
Remember, it deals with deviation from the average.
True or False: The mode can be defined as the value that appears most frequently in a dataset.
Think about what represents frequency in data.
A company records the following sales over five weeks: $200, $250, $300, $450, $700. Determine the mean, median, mode, variance, and standard deviation.
Use the formulas for mean, median, mode, variance, and standard deviation respectively for your calculations.
Discuss how a government might use statistical analysis to adjust inflation rates. Provide a real-world context.
Think of a recent policy change and its relationship to economic data.
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