Description
Part 1. What is the relationship between mean, median, and mode? Under what circumstances are they equal?
Part 2. Over the next several weeks, we will be observing a company that develops, markets, manufactures, and sells integrated wide-area network access products. See the attached dataset for the salary paid to employees
Calculate the simple and weighted arithmetic mean of salary paid.
Calculate to Coefficient of Range
Find the average deviation from mean
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Explanation & Answer
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1
Measures of central tendency
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Part 1
Measures of central tendency
These offer a way of describing data from the central position of the entire data group.
There are three primary measures of central tendency, including mode, median, and mean. The
mean is the average of the total sum of the values in a set and the most common measure of
central tendency (Chakrabarty, 2021). It can be used in continuous and discrete cases, making it
the most outstanding measure. Mean is obtained by finding the sum of all the values in a set and
diving it by set’s total number of values (Chakrabarty, 2021). For illustration purposes, if a data
set has n values, one would find the mean by adding everything and dividing as below:
The above method is applicable for a simple mean; a weighted mean approach would
appear as below:
The mean uses all the elements in a data set and, in this way, minimizes errors. It is also
the most straightforward measure of ...
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