Question

In: Statistics and Probability

1. What is an example of when you would want consistent data and, therefore, a small standard deviation?

1. What is an example of when you would want consistent data and, therefore, a small standard deviation?

2. What is an example of when you might want a large standard deviation? That is, data that is more spread out?

Solutions

Expert Solution

1.. Consistency of data can be viewed in many ways .Typical measures of data consistency include statistics such as the range (i.e., the largest value minus the smallest value among a distribution of data), the variance (i.e., the sum of the squared deviations of each value in a distribution from the mean value in a distribution divided by the number of values in a distribution) and the standard deviation (i.e., the square root of the variance).

A data with small standard deviation is called a consistent data( in terms of standard deviation).

Example of consistent data:

  • A weather reporter is analyzing the high temperature forecasted for a series of dates versus the actual high temperature recorded on each date. A low standard deviation would show a reliable weather forecast.

2. Example of data with high standard deviation:

  • A dog walker wants to determine if the dogs on his route are close in weight or not close in weight. He takes the average of the weight of all ten dogs. He then calculates the variance, and then the standard deviation. His standard deviation is extremely high. This suggests that the dogs are of many various weights, or that he has a few dogs whose weights are outliers that are skewing the data.

Related Solutions

a. What is an example of when you would want consistent data and, therefore, a small standard deviation?
a. What is an example of when you would want consistent data and, therefore, a small standard deviation? b. What is an example of when you might want a large standard deviation? That is, data that is more spread out?
What is an example of when you would want consistent data and, therefore, a small standard...
What is an example of when you would want consistent data and, therefore, a small standard deviation and what is an example of when you might want a large standard deviation?
1a. What is an example of when you would want consistent data and, therefore, a small...
1a. What is an example of when you would want consistent data and, therefore, a small standard deviation? b. What is an example of when you might want a large standard deviation? That is, data that is more spread out?
What is an example of when you might want a large standard deviation? That is, data...
What is an example of when you might want a large standard deviation? That is, data that is more spread out?
What is an example of when you might want a large standard deviation? That is, data is spread out?
What is an example of when you might want a large standard deviation? That is, data is spread out?
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1...
The standard deviation alone does not measure relative variation. For example, a standard deviation of $1 would be considered large if it is describing the variability from store to store in the price of an ice cube tray. On the other hand, a standard deviation of $1 would be considered small if it is describing store-to-store variability in the price of a particular brand of freezer. A quantity designed to give a relative measure of variability is the coefficient of...
If data set A has a larger standard deviation than data set B, what would be...
If data set A has a larger standard deviation than data set B, what would be different about their distributions?
The formula for a sample Standard Deviation is Say we want to use standard deviation as...
The formula for a sample Standard Deviation is Say we want to use standard deviation as a way of comparing the amount of spread present in each of two different distributions. What is the effect of squaring the deviations? (1 mark) How does this help us when we compare the spreads of two distributions? (1 mark) With reference to the formula and the magnitude of data values, explain why introducing an outlier to a dataset affects the Standard Deviations more...
Why and when would you want to use ANOVA in marketing research? Provide an example where...
Why and when would you want to use ANOVA in marketing research? Provide an example where you would use ANOVA. Please make relevant to MARKETING research!
1. What is the key difference between a population standard deviation and the standard deviation of...
1. What is the key difference between a population standard deviation and the standard deviation of a sampling distribution? 2. How does this effect the normal distribution for the sample? (i.e. shape)
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT