Question

Regarding requirement #4: What impact would an outlier have?

Regarding requirement #5: Why is it important to look at dispersion? Why is standard deviation a better measure of dispersion than the range?

Answer 1

What impact would an outlier have ?

Generally mode and median value will not change so much. Both mode and median will be around where most of the data is available.so outliers will habe biggest impact on mean value and so much of the median and mode

outliers often has a significant effect on your mean and standard deviation. Because of this, we must take steps to remove outliers from our data sets.

Why is it important to look at dispersion?

Dispersion is in statistics, describe how the data set is spread out whether the data has large value or small value.

If data set has large value then the value would be used as widely scattered; and if it is smalle value then data sets are tightly clustered.

Spread of the data set is condidered as by a range of descriptive statistics including variance, standard deviation, and interquartile range. Spread can also be shown in graphs: dot plots, boxplots, and stem and leaf plots

Why is standard deviation a better measure of dispersion than the range?

There is an advantage of measuring dispersion of data by standard deviation.

The standard deviation takes all data into consideration .because it uses all the observations in its computation

Another reason of measuring by standard deviation is, if the measure of dispersion by range will have resistant to extreme values