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Measure of Variability and Position

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7 views1 page

Measure of Variability and Position

Uploaded by

magnoalle24
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Business Analytics

Measures of Variability and Position Worksheet


Part 1: Understanding the Concepts

1. Define the following terms:


o Range
o Variance
o Standard Deviation
o Quantile
o Z-score
2. Explain the relationship between variance and standard deviation.
3. Describe how the z-score is used to standardize data.

Part 2: Data Analysis

Given the following dataset: 2, 5, 8, 12, 15, 18, 20, 22, 25, 30

1. Calculate the:
o Range
o Variance
o Standard Deviation
2. Find the:
o First quartile (Q1)
o Median (Q2)
o Third quartile (Q3)
o Interquartile Range (IQR)
3. Determine the z-score for the value 18.

Part 3: Conceptual Questions

1. Explain how adding a constant value to each data point affects the measures of
variability (range, variance, standard deviation).
2. Discuss the impact of multiplying each data point by a constant value on the measures of
variability and position.
3. Compare the advantages and disadvantages of using the range, variance, and standard
deviation as measures of variability.
4. Explain why z-scores are useful for comparing data points from different distributions.

Part 4: Real-World Application

1. Imagine you have two different classes of students. One class has a higher mean test
score than the other, but the standard deviation is also higher. Which class has a wider
range of scores? Explain your reasoning.
2. Consider a dataset representing the heights of adult males. If you were to standardize the
heights using z-scores, what would a z-score of 2.5 indicate?

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