Question 1 In the movie Master and Commander, Russell Crowe, as Captain Jack Aubrey, discovers that the crew has a strange feeling about what is cursing the ship with bad luck. His botanist-surgeon friend Stephen, who records scientific observations in his research field book, says, You dont believe that, do you? Not everything is written down in your little book, Stephen.
Moral: Everything that exists is not everything you can see. Prior to the invention of the microscope, we did not know about bacteria. It existed, but we could not see it. Gravity exists, but we cannot see it, only its effects. There are real invisible fields out there. Discoveries occur when someone asks: How do you explain that?
Does anyone know of something that is not easy to explain?
question 2
The Mean, Median & Mode
The mean is the most popular person at the dance. The median is only of interest to those with skewed distributions, and the mode sits in the corner alone.
Mean – found by adding up all data in a data set and dividing by the number of values.
Advantage: Exact average
Disadvantage: Easily affected by outliers or extreme values (nonresistant)
Median – found by organizing the data in numerical order and then finding the middle value
Advantage: Exact middle value, not affected by outliers (resistant)
Disadvantage: Not necessarily the average
Mode – found by identifying the most common data value
Advantage: Can be used for quantitative and qualitative data, not affected by outliers (resistant)
Disadvantage: Data may have no mode or be bi/multi-modal
Caution: as the mean, median and mode approach that of a normal distribution, they all fuse together.
See slide 31 in the PowerPoint presentation in the Course Guide.
How would you use this data in business?
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