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    For any data set, no matter what the distribution of the data is:

  • At least 75% of the data is within two standard deviations of the mean.
  • At least 89% of the data is within three standard deviations of the mean.
  • At least 95% of the data is within 4.5 standard deviations of the mean.
  • This is known as Chebyshev's Rule.

    For data having a distribution that is bell-shaped and symmetric:

  • Approximately 68% of the data is within one standard deviation of the mean.
  • Approximately 95% of the data is within two standard deviations of the mean.
  • More than 99% of the data is within three standard deviations of the mean.
  • This is known as the Empirical Rule.
  • It is important to note that this rule only applies when the shape of the distribution of the data is bell-shaped and symmetric. We will learn more about this when studying the "Normal" or "Gaussian" probability distribution in later chapters.

References

Data from Microsoft Bookshelf.

King, Bill.“Graphically Speaking.” Institutional Research, Lake Tahoe Community College. Available online at http://www.ltcc.edu/web/about/institutional-research (accessed April 3, 2013).

Chapter review

The standard deviation can help you calculate the spread of data. There are different equations to use if are calculating the standard deviation of a sample or of a population.

  • The Standard Deviation allows us to compare individual data or classes to the data set mean numerically.
  • s = ( x x ¯ ) 2 n 1 or s = f ( x x ¯ ) 2 n 1 is the formula for calculating the standard deviation of a sample. To calculate the standard deviation of a population, we would use the population mean, μ , and the formula σ = ( x μ ) 2 N or σ = f ( x μ ) 2 N .

Formula review

s x = f m 2 n x ¯ 2 where s x =  sample standard deviation x ¯  = sample mean

Practice

Use the following information to answer the next two exercises : The following data are the distances between 20 retail stores and a large distribution center. The distances are in miles.
29; 37; 38; 40; 58; 67; 68; 69; 76; 86; 87; 95; 96; 96; 99; 106; 112; 127; 145; 150

Use a graphing calculator or computer to find the standard deviation and round to the nearest tenth.

s = 34.5

Find the value that is one standard deviation below the mean.

Two baseball players, Fredo and Karl, on different teams wanted to find out who had the higher batting average when compared to his team. Which baseball player had the higher batting average when compared to his team?

Baseball Player Batting Average Team Batting Average Team Standard Deviation
Fredo 0.158 0.166 0.012
Karl 0.177 0.189 0.015

For Fredo: z = 0.158  –  0.166 0.012 = –0.67

For Karl: z = 0.177  –  0.189 0.015 = –0.8

Fredo’s z -score of –0.67 is higher than Karl’s z -score of –0.8. For batting average, higher values are better, so Fredo has a better batting average compared to his team.

Use [link] to find the value that is three standard deviations:

  • above the mean
  • below the mean


Find the standard deviation for the following frequency tables using the formula. Check the calculations with the TI 83/84 .

Find the standard deviation for the following frequency tables using the formula. Check the calculations with the TI 83/84.

  1. Grade Frequency
    49.5–59.5 2
    59.5–69.5 3
    69.5–79.5 8
    79.5–89.5 12
    89.5–99.5 5
  2. Daily Low Temperature Frequency
    49.5–59.5 53
    59.5–69.5 32
    69.5–79.5 15
    79.5–89.5 1
    89.5–99.5 0
  3. Points per Game Frequency
    49.5–59.5 14
    59.5–69.5 32
    69.5–79.5 15
    79.5–89.5 23
    89.5–99.5 2
  1. s x = f m 2 n x ¯ 2 = 193157.45 30 79.5 2 = 10.88
  2. s x = f m 2 n x ¯ 2 = 380945.3 101 60.94 2 = 7.62
  3. s x = f m 2 n x ¯ 2 = 440051.5 86 70.66 2 = 11.14

Questions & Answers

differentiate between demand and supply giving examples
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Lambiv
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appreciation
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In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
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other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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what is monopoly mean?
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What is different between quantity demand and demand?
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Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
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Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
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it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
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In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
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Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
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types of unemployment
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What is the difference between perfect competition and monopolistic competition?
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Source:  OpenStax, Statistics i - math1020 - red river college - version 2015 revision a - draft 2015-10-24. OpenStax CNX. Oct 24, 2015 Download for free at http://legacy.cnx.org/content/col11891/1.8
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