Page 84 - DECO504_STATISTICAL_METHODS_IN_ECONOMICS_ENGLISH

Statistical Methods in Economics

Notes ∑ fdx
Mean = x + i ×
n
–103
= 32.5 + × 5
63

–515
= 32.5 +
63
= 32.5 – 8.17 = 24.33 approx.

N 63
Median No. = = = 31.5
2 2

i
Median = + (l – )m c
f
5
= 20 + ( )31.5 – 30
7
7.5
= 20 +
7
= 20 + 1.07 = 21.07

f – f
Mode = l + 1 0 i ×
1
2 f 1 – f 0 – f 2
20 – 6
= 15 + × 5
40 – 6–7
×
14 5
= 15 +
27
70
= 15 + = 15 + 2.59 = 17.59
27
Coefficient of Range Dispersion

50 – 5 45
(1) By using Mean = = 1.84
24.33 24.33
50 – 5 45
(2) By using Double the Mean = = 0.92
×
24.33 2 48.66
50 – 5 45
(3) By using Median = = 2.13
21.07 21.07

50 – 5 45
(4) By using Mode = = 2.55
17.59 17.59
50 – 5 45
(5) By using sum of the extremes = = 0.81
+
50 5 55

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