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Related Positional Measures
Besides median, there are other measures which divide a series into equal parts. Important amongst these are quartiles, deciles and percentiles.
Quartiles are those values of the variate which divide the total frequency into 4 equal parts, deciles divide the total frequency into 10 equal parts and the percentiles divide the total frequency into 100 equal parts.
The quartiles are denoted by symbol Q, deciles by D and the percentiles by P. Graphically, any set of these partition values divides the area of the frequency curve on histogram into equal parts.
Grouped Data In order to find the median, the median class is to be first located and then interpolation is to be used by assuming that items are evenly spaced over the entire
(a) Elevation (m) 0 400 800 1200 1600 2000 2400 2800 3200 4000 480
Objective of index numbers
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Empirical Mode Where mode is ill-defined, its value may be ascertained by the following formula based upon the empirical relationship between Mean, Median and Mode: Mode = 3
Random Sampling Method In this method the units are selected in such a way that every item in the whole universe has an equal chance of being included. In the words of croxton
The decision maker ranks lotteries according to the utility function (i) State the independence assumption. Does this decision maker satisfy it? (ii) Is this decision ma
Suppose that before the minimum wage law change, the underlying mean number of part-time employees per Burger King Restaurant in New Jersey was 20.3. It was thought that the increa
defin fair game
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