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• Dispersion means spread or scatteredness of the various observations. View Measures of Dispersion.pptx from BUSINESS LAW at VIT University Vellore. Measures of central tendency will show you the different ways you can group your data. Measures of dispersion - Range, Variance -Standard deviation – co-efficient of variation - computation of the above statistics for raw and grouped data Measures of Dispersion The averages are representatives of a frequency distribution. www.sakshieducation.com www.sakshieducation.com (1) Range : It is the difference between the values of extreme items in a series. Enroll in the Statistics course for free at: https://cognitiveclass.ai/courses/statistics-101/ Take this course and you won't fail statistics. There are three main measures of variation, the range, the variance and the standard deviation. Range is the difference between the maximum and minimum values in a data set. Measures of dispersion, also known as variation, tell us how spread out or compact the data tends to be. Measures of Central Tendency a single value that represents a data set. An absolute measure of dispersion contains the same unit as the original data set. Measures of Dispersion • Because dispersion is concerned with how “close together” or “far apart” observed values are (i.e., with the magnitude of the intervals between them), measures of dispersion are defined only for interval (or ratio) variables, – or, in any case, variables we are willing to treat as interval (like IDEOLOGY in the preceding charts). Variability in 2 or more distrn can be compared provided they are given in the same unit and have the same average. All the important points related to a particular topic of Economics Class 11 are jotted down in small paragraphs. References: Aufmann, R. (2018). 2. Handout Seven. MEASURES OF DISPERSION Measures of central tendency (mean, median, mode, GM and HM) do … 2)To make a comparative study of the variability of two. Concept 7: Measures of Dispersion. Measures of Dispersion, Skewness, and Kurtosis. Descriptive summary measure Helps characterize data Variation of observations Determine degree of dispersion of observations about the center of the distribution. Important Measures of Dispersion in Research. Measures of Ccentral Tendency and Dispersion PDF Free Download Important Term and Concepts: 1. It includes range, standard deviation, quartile deviation, etc. Measures of Dispersion Although the range is easy to compute it is a crude measure of variability. (Stat.) Central TendencyVariability Statistics - Measures of central tendency and dispersion Class 2 Session 2 OscarBARRERA oscardavid.barrerarodriguez@sciencespo.fr Now customize the name of a clipboard to store your clips. Share. tendency and the dispersion. Concepts of Measures of Dispersion: Minimum, Maximum, Range, Variation, Standard Deviation, z-scores Range is commonly used measures of dispersion in case of changes in interest rates, exchange rate, share prices and like statistical information. Embed. Now customize the name of a clipboard to store your clips. Times New Roman ppt Microsoft Equation 3.0 Chapter 4: Measures of Central Tendency What is a measure of Central Tendency? In this video you will learn to compute and apply measures of dispersion. In higher classes teachers generally prefer teaching students with the help of ppts. 1) To judge the reliability of measures of central tendency. Measure … Words: 951; Pages: 18; Preview; Full text; Measures of Dispersion Measures of variation measure the variation present among the values of a data set, so measures of variation are measures of spread of values in the data. 1 Measures of Dispersion Dispersion is the measure of variation: Methods of studying the variation: 1.Range and It gives us an idea about the extent to which individual items vary from one another and from the central value. Measures of dispersion, a statistical technique, can be used to measure the disparity in the applicants of JAMB in each States and geopolitical zones in Nigeria. A large measure of dispersion indicates that the mean is not reliable (it is not representative of the data). Absolute dispersion Same unit as the observations. – A free PowerPoint PPT presentation (displayed as a Flash slide show) on PowerShow.com - id: 7f080b-YmQ2N In this lecture we will cover the three basic measures of dispersion. Biostat -8 Date:25.01.2009 MEASURES OF DISPERSION, RELATIVE STANDING AND SHAPE Dr. Bijaya Bhusan Nanda, M. Sc (Gold Medalist) Ph. View Measure of Central Tendency and Dispersion.ppt from GE MATH121 at Batangas State University. Measures of Dispersion 20 21 23 4 5 26 7 28 930 x x xx xx x x x x x x x x 20 1 3 4 526 728 930 xx x x x x x DataSet1 atSe2 Data set 1 has most of its values far from the mean and is u-shaped, while data set 2 has most of its values closer to the mean and is mound shaped or bell shaped. In this lecture we will cover the three basic measures of dispersion. This is to get rid of any minus signs. Measures of Variability Learning to calculate the Standard Deviations Measures of Variability Using the Deviation formula to calculate the Standard Deviation. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. The three basic things they can tell you are the median, mean, and range. One is a Algebraic method and the other is Graphical method. Save Save Measures of Dispersion.ppt For Later. Solution: Range = 8% – 2% = 6%. Print. The Usual Measures of Dispersion: The usual measures of dispersion, very often suggested by the statisticians, are exhibited with the aid of the following chart: Primarily, we use two separate devices for measuring dispersion of a variable. Measures of Dispersion • Let us consider the series of numbers: 5, 5, 5, 5, 5 (Mean = 5) 1, 3, 5, 7, 9 (Mean = 5) 1, 3, 4, 6, 11 (Mean = 5) • Are the dataset same? It tells the variation of the data from one another and gives a clear idea about the distribution of the data. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. While the center of the data gives valuable insights, knowledge of the spread of the data completes the picture with absolute measures of dispersion and relative measures of dispersion. MEASURES OF DISPERSION 3. Measures of dispersion. But they fail to give a complete picture of the distribution. Classification of Measures of Dispersion. See our Privacy Policy and User Agreement for details. The measure which expresses the variations in terms of the average of deviations of observations like mean deviation and standard deviation. If you continue browsing the site, you agree to the use of cookies on this website. A single value which measure that how the individual observations of a data set are … MEASURES OF CENTRAL TENDENCY.ppt - Free download as Powerpoint Presentation (.ppt), PDF File (.pdf), Text File (.txt) or view presentation slides online. Looks like you’ve clipped this slide to already. ! If you continue browsing the site, you agree to the use of cookies on this website. The measure of dispersion displays and gives us an idea about the variation and central value of an individual item. Relative: Measure of dispersion is free from unit of measurement of data. Absolute dispersion method expresses the variations in terms of the average of deviations of observations like standard or means deviations. 11_Central-Tendency-12-07-2010 . The measure of dispersion is categorized as: (i) An absolute measure of dispersion: The measures which express the scattering of observation in terms of distances i.e., range, quartile deviation. Calculate the range. (2) (x r - m) 2 means square each of the results obtained from step (1). Measure of dispersion: Absolute: Measure the dispersion in the original unit of the data. You can change your ad preferences anytime. This document is highly rated by CA Foundation students and has been viewed 3284 times. We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. It is possible with the help of measures of dispersion. Its purpose is to locate Measures Of Dispersion 957381 PPT. Range Measures of Dispersion Range measures are based on the distance between pairs of (relatively) “extreme” values observed in the data. Consider the following two sets of data which have the same mean, 25, and the same range, 10, but obvious di erences in the pattern of variability: 2 021 23 4 526 7 8 93 x x x x xx x x x x x x x 20 21 3 4 526 xx x x x x x x Da taSet1 DaSe2 Measures Of Dispersion 957381 PPT. Dispersion (a.k.a., variability, scatter, or spread)) characterizes how stretched or squeezed of the data. Title: Measures of Dispersion 1 Measures of DispersionThe Standard Normal Distribution. Range is widely used in statistical series relating to quality control in production. 4.1 Introduction. The annual returns of a portfolio manager for the past 4 years are 4%, 2%, 6%, 8%. The Important measures of dispersion can represent a series only as best as a single figure can, but it certainly cannot reveal the entire story of any phenomenon under study. 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