# Essay about The Value Of Central Tendency

Length: 827 words (2.4 double-spaced pages)

Rating: Better Essays

#### Essay Preview

Central tendency is the extent to which data values conjoin around a specific value or central value (Levine, Stephan, Krehbiel, & Berenson, 2008). The mean is a balance point in a set of data (Levine, et al., 2008). In order to calculate the mean, you must add together all the values and then divide that sum by the amount of values present in the data set (Levine, et al., 2008). One extreme value can alter the mean greatly, when this happens the mean my not be the best measure of central tendency (Levine, et al., 2008).
The median is another measure of central tendency that measures the half waypoint in a data set (Levine, et al., 2008). If the data set has an odd number, the median will be the middle ranked value (n+1 / 2) (Levine, et al., 2008). If the data set has an even number of values the median with be measured using the average of the two middle-ranked values (Levine, et al., 2008).
The mode is the value in a set of data that appears more frequently than any other value (Levine, et al., 2008). There are times there are no modes and there are times that there is more than one mode (Levine, et al., 2008).
The geometric mean is used to measure the rate of change of a variable over time (Levine, et al., 2008). The geometric mean is equivalent to the nth root of the product of n values (Levine, et al., 2008). The geometric mean rate of return measures the average percentage return on an investment over a period (Levine, et al., 2008).
Data can also be characterized by its variation and shape (Levine, et al., 2008). Variation measures the spread, or dispersion, of the values in the data set (Levine, et al., 2008). The range is one measure of variation that determines the difference between the largest and smallest values ...

... middle of paper ...

... a right-skewed data set, this cluster occurs to the left of the mean, and left-skewed to the right of the mean (Levine, et al., 2008). Using the empirical rule will help to measure how the values distribute above and below the mean and can help identify outliers (Levine, et al., 2008). The Chebyshev rule states that for any data set, the percentage of values that are found within distances of K standard deviations from the mean must be at least (1- 1 / k2) X 100% (Levine, et al., 2008).
The covariance measures the strength of the linear relationship between two numerical variables (Levine, et al., 2008). The coefficient of correlation measures the relative strength of a linear relationship between two numerical variables (Levine, et al., 2008). The coefficient of correlation indicates the linear relationship between two numerical variables (Levine, et al., 2008).

## Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

## The Value Of Self Reliance Essay

- Trust Thyself. Why. “Trust thyself.” Emerson’s central message seems to resonate with us Americans. After all, the value of self-reliance has long been a part of the American spirit. Self-reliance, trusting one’s own thoughts, ideals, and dreams, appeals to our desire to be free and independent. Plato, Ralph Waldo Emerson, and Walt Whitman all have their own varying ideas on the notion of self-reliance, but common to them all is the promotion of self-reliance as a virtue. To be free of the expectations and demands of others to pursue our own happiness, is certainly an inspirational idea....   [tags: Ralph Waldo Emerson, Walt Whitman, United States]

Better Essays
1368 words (3.9 pages)

## The Benefits of Hedging Policies with Respect to Firm Value Essay

- Whether hedging policy has or not an impact on the firm value needs a heavy empirical proof and there has not been reached any consensus in the scientific literature, yet. Due to this fact, this paper intends to reach a consistent evidence, in order to prove the benefits of the hedging policies in respect to the firm value and prove whether the corporate hedging affects it. II. Research Problem and Objectives The research problem The research objectives can be derived from the following questions: What determines the companies to hedge....   [tags: risk management theories]

Better Essays
894 words (2.6 pages)

## The Formation Of A Concentrated Managing An Account Framework Essay examples

- So as to accomplish steadiness in the country 's economy, the formation of a concentrated managing an account framework was instituted to target twofold digit expansion. The Central bank Framework was made 1913 with the trusts of expanding the supply of cash. Money related Strategy Fiscal strategy is the procedure by which the administration, national bank or financial power deals with the cash supply to accomplish particular objectives. These objectives incorporate compelling swelling, keeping up a swapping scale, accomplishing full livelihood or financial development (Money related arrangement, Wikipedia)....   [tags: Central bank, Monetary policy, Great Depression]

Better Essays
1556 words (4.4 pages)

## Innovation is Necessary in Public Services Essay

- Innovation is any changes, which has economic values for organizations or institutions. The changes could be in shape of products, policies or in the strategies of institutions. Political motivation of innovation is mostly same for all institutions but their characters are less willing to planning. Mintzberg ( 1989) Innovation is vital for all aspects of business and for countries economics growths, regions and for organization survivals and their growth. It relates to restoring and changing the method of acting things alongside new ideas....   [tags: Change, Economic Value, Organizations]

Better Essays
1704 words (4.9 pages)

## The Pros and Cons of an Independent Central Bank Essay

- 1. INTRODUCTION In 1962, Milton Friedman wrote the essay “Should There Be An Independent Central Bank?” Since then, half a century has passed. Nowadays, many countries in the world have their independent central banks. But the discussion about whether central banks should be independent does not end. This paper will try to 1) provide the arguments on both pros and cons whether central banks should be independent; 2) provides evidence about the relationship between central bank independence and inflation in developed countries, developing countries and transition countries....   [tags: Central Bank Independence]

Better Essays
2938 words (8.4 pages)

## The Central Bank And The Federal Reserve Act Essay examples

- In conjunction with their respective governments, central banks have been manipulating economies for decades. Central bankers have sought to control interest rates, inflation and credit through their policies. Their efforts have impacted the stock market, job creation, home construction and many more aspects of the economy. However, in recent years, central bankers have manipulated themselves into a corner and become trapped in the mess that they made. Why Are Central Banks Trapped in Their Own Mess....   [tags: Central bank, Monetary policy]

Better Essays
891 words (2.5 pages)

## Essay about Inflation Is A Tendency For Nominal Prices

- Inflation is a tendency for nominal prices to increase. Inflation is measured commonly by changes over time in Gross Domestic Product (GDP) deflator or Customer Price Index (CPI). GDP deflator is calculated by dividing the nominal GDP by the real GDP. CPI is calculated from the base year to another by finding the percent change in the price level from the base year to the comparison year. This is calculated by subtracting 100 from the CPI. To calculate the CPI for any two given year you must calculate the percentage change in the level of the CPI, subtract the CPI for the later year from the CPI for the earlier year and then divide by the CPI for the earlier year....   [tags: Inflation, European Union, Economics]

Better Essays
911 words (2.6 pages)

## The Value of a College Education Essay examples

- Introduction The main focus of the essay is on the meaning of an education. It’s stated that a real education consists of more than just training in the specifics of one’s chosen field. It cites lateral thinking and communication skills as the valuable life skills that should be learned. It then proceeds to examine the need for these skills in the real world and the need for these skills to be taught at university level. It starts by examining the general case of all students arriving in college for the first time and by the end gets to the particular needs of computer science students and others in the more practical disciplines....   [tags: Value of Education Essays]

Better Essays
2222 words (6.3 pages)

## Essay on The Importance Of Leadership At Central Academy

- leadership itself has been more effective is that we backlash we got from whatever it categorizes the privileged few, mostly from the west part of our district when all of a sudden when their daughter couldn’t take half their schedule at central academy because you know some of what she would take at central academy is there is in her high school and you have a lot of opportunistic educator like a lot of the staff in central academy who you know you use that and say that you can’t do that, we have to stay in our protected little bubble and so, what I remember is one of the most invigorating  meetings I had with the staffs when I was in the district two springs ago at the central academy was...   [tags: Teacher, Education, The Central, Doing It]

Better Essays
1110 words (3.2 pages)

## Central America Essay

- Central America Central America, just south of Mexico and North of Panama, consists of just six countries; Guatemala, Belize, El Salvador, Honduras, Nicaragua, and Costa Rica. Of those six, all share a distinct common history except for Belize. Belize for one is incredibly small, and while Spanish is the official language of other Central American countries, in Belize English is spoken. So throughout this paper as I carelessly say 'Central American' I am not including Belize whose history and development was far different than the others....   [tags: Central American History]

Better Essays
1385 words (4 pages)