<< Chapter < Page Chapter >> Page >

  • For the following problems, recall that value = mean + (#ofSTDEVs)(standard deviation) . Verify the mean and standard deviation or a calculator or computer.
  • For a sample: x = x ¯ + (#ofSTDEVs)( s )
  • For a population: x = μ + (#ofSTDEVs)( σ )
  • For this example, use x = x ¯ + (#ofSTDEVs)( s ) because the data is from a sample

  1. Verify the mean and standard deviation on your calculator or computer.
  2. Find the value that is one standard deviation above the mean. Find ( x ¯ + 1s).
  3. Find the value that is two standard deviations below the mean. Find ( x ¯ – 2s).
  4. Find the values that are 1.5 standard deviations from (below and above) the mean.
    • Clear lists L1 and L2. Press STAT 4:ClrList. Enter 2nd 1 for L1, the comma (,), and 2nd 2 for L2.
    • Enter data into the list editor. Press STAT 1:EDIT. If necessary, clear the lists by arrowing up into the name. Press CLEAR and arrow down.
    • Put the data values (9, 9.5, 10, 10.5, 11, 11.5) into list L1 and the frequencies (1, 2, 4, 4, 6, 3) into list L2. Use the arrow keys to move around.
    • Press STAT and arrow to CALC. Press 1:1-VarStats and enter L1 (2nd 1), L2 (2nd 2). Do not forget the comma. Press ENTER.
    • x ¯ = 10.525
    • Use Sx because this is sample data (not a population): Sx=0.715891
  1. ( x ¯ + 1s) = 10.53 + (1)(0.72) = 11.25
  2. ( x ¯ – 2 s ) = 10.53 – (2)(0.72) = 9.09
    • ( x ¯ – 1.5 s ) = 10.53 – (1.5)(0.72) = 9.45
    • ( x ¯ + 1.5 s ) = 10.53 + (1.5)(0.72) = 11.61
Got questions? Get instant answers now!

Try it

On a baseball team, the ages of each of the players are as follows:

21; 21; 22; 23; 24; 24; 25; 25; 28; 29; 29; 31; 32; 33; 33; 34; 35; 36; 36; 36; 36; 38; 38; 38; 40


Use your calculator or computer to find the mean and standard deviation. Then find the value that is two standard deviations above the mean.

μ = 30.68

s = 6.09
( x ¯ + 2 s ) = 30.68 + (2)(6.09) = 42.86.

Got questions? Get instant answers now!

Explanation of the standard deviation calculation shown in the table

The deviations show how spread out the data are about the mean. The data value 11.5 is farther from the mean than is the data value 11 which is indicated by the deviations 0.97 and 0.47. A positive deviation occurs when the data value is greater than the mean, whereas a negative deviation occurs when the data value is less than the mean. The deviation is –1.525 for the data value nine. If you add the deviations, the sum is always zero . (For [link] , there are n = 20 deviations.) So you cannot simply add the deviations to get the spread of the data. By squaring the deviations, you make them positive numbers, and the sum will also be positive. The variance, then, is the average squared deviation.

The variance is a squared measure and does not have the same units as the data. Taking the square root solves the problem. The standard deviation measures the spread in the same units as the data.

Notice that instead of dividing by n = 20, the calculation divided by n – 1 = 20 – 1 = 19 because the data is a sample. For the sample variance, we divide by the sample size minus one ( n – 1). Why not divide by n ? The answer has to do with the population variance. The sample variance is an estimate of the population variance. Based on the theoretical mathematics that lies behind these calculations, dividing by ( n – 1) gives a better estimate of the population variance.

Questions & Answers

Ayele, K., 2003. Introductory Economics, 3rd ed., Addis Ababa.
Widad Reply
can you send the book attached ?
Ariel
?
Ariel
What is economics
Widad Reply
the study of how humans make choices under conditions of scarcity
AI-Robot
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn Reply
U(x,y) = (x×y)1/2 find mu of x for y
Desalegn
what is ecnomics
Jan Reply
this is the study of how the society manages it's scarce resources
Belonwu
what is macroeconomic
John Reply
macroeconomic is the branch of economics which studies actions, scale, activities and behaviour of the aggregate economy as a whole.
husaini
etc
husaini
difference between firm and industry
husaini Reply
what's the difference between a firm and an industry
Abdul
firm is the unit which transform inputs to output where as industry contain combination of firms with similar production 😅😅
Abdulraufu
Suppose the demand function that a firm faces shifted from Qd  120 3P to Qd  90  3P and the supply function has shifted from QS  20  2P to QS 10  2P . a) Find the effect of this change on price and quantity. b) Which of the changes in demand and supply is higher?
Toofiq Reply
explain standard reason why economic is a science
innocent Reply
factors influencing supply
Petrus Reply
what is economic.
Milan Reply
scares means__________________ends resources. unlimited
Jan
economics is a science that studies human behaviour as a relationship b/w ends and scares means which have alternative uses
Jan
calculate the profit maximizing for demand and supply
Zarshad Reply
Why qualify 28 supplies
Milan
what are explicit costs
Nomsa Reply
out-of-pocket costs for a firm, for example, payments for wages and salaries, rent, or materials
AI-Robot
concepts of supply in microeconomics
David Reply
economic overview notes
Amahle Reply
identify a demand and a supply curve
Salome Reply
i don't know
Parul
there's a difference
Aryan
Demand curve shows that how supply and others conditions affect on demand of a particular thing and what percent demand increase whith increase of supply of goods
Israr
Hi Sir please how do u calculate Cross elastic demand and income elastic demand?
Abari
Got questions? Join the online conversation and get instant answers!
Jobilize.com Reply

Get Jobilize Job Search Mobile App in your pocket Now!

Get it on Google Play Download on the App Store Now




Source:  OpenStax, Introductory statistics. OpenStax CNX. May 06, 2016 Download for free at http://legacy.cnx.org/content/col11562/1.18
Google Play and the Google Play logo are trademarks of Google Inc.

Notification Switch

Would you like to follow the 'Introductory statistics' conversation and receive update notifications?

Ask