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What is a sample statistics?
It is a value calculated from the sample values only.It is a value calculated from the sample values only.It is a value calculated from the sample values only.It is a value calculated from the sample values only.
What does the term coefficient of variation mean?
The Coefficient of Variation is a ratio showing the degree to which individual points of data in a sample deviate from the mean. It is calculated by taking the standard deviation of the sample and dividing that by the mean of the sample. It can be useful for comparing different data sets because it is a ratio (or percentage) and not an absolute number.
Advantages and disadvantages of using arithmetic mean?
"The advantage is that the mean takes every value into account. A disadvantage is that it can be affected by extreme values. " The mean or more properly the "arithmetic mean" of a sample will eventually approximate the mean of the distribution of the population as the sample size increases. If the population distribution is skewed (not symmetrical), the mode and median will not provide an estimate of the mean, even as the sample size becomes large.
Why wont a sample statistics change from sample to sample?
The sample mean may differ from the population mean, especially for small samples.
If three samples have means of 10 20 and 15 what is their grand mean?
The grand mean can only be calculated if the three samples are of equal size. In this case, the grand mean is the mean of the three sample means. In this case, it would be (10+20+15)/3 = 15. However, in the sample sizes are not equal you must take the weighted mean. One option would be to assign, to each of the three means, an importance that reflects its sample size. So, if in the above example, the sample sizes were a, b and c the grand mean would be (10a + 20b + 15c)/(a+b+c) It is easy to show that the grand mean becomes the mean of the three sample means when a = b = c.
