Calculation of Mean with Example | Descriptive Statistics | Statistics and Data Analysis Video
Calculation of Mean with Example: Direct method, Shortcut method, Step-deviation method | Descriptive Statistics | Statistics and Data Analysis
CHAPTERS
0:00 Introduction
0:37 Learning Contents
1:12 Mean for Individual Data
1:59 Mean for Discrete Data
2:47 Mean for Continuous Data
28:02 Recap
#mean #statistics #dataanalysis #businessstatistics #descriptivestatistics #statisticalanalysis
Mean for Individual Series: Direct Method
Find the sum of all the data values and divide this total by the number of data values
Mean for Individual Series: Shortcut Method
When the number of observations is large, the mean can be found by the shortcut method or assumed mean method.
• First choose a data value as an assumed mean.
• Find the deviation of each data value from the assumed mean.
• Find the sum of the deviations and then divide the sum by the number of data values.
• And finally add the assumed mean to the result.
Mean for Discrete Series: Direct Method
• Multiply the frequency (f) of each data variable (x) and find Σfx
• Find the sum of frequency Σf
• Divide Σfx by Σf and hence the mean of the data.
Mean for Discrete Series: Shortcut Method
• Take any observation as an assumed mean
• Take the deviation of each observation from the assumed mean.
• Multiply these deviations with their respective frequencies and find the sum as Σfd
• Divide Σfd by the sum of frequencies Σf
• Add this calculated value to the assumed and hence the mean of the data.
Mean for Continuous Series: Direct Method
• Obtain the mid-value of each class and denote it by ‘m’.
• Multiply the mid-value by the corresponding frequency and find the Σfm
• Divide Σfm by the sum of frequencies Σf and hence calculate the mean.
Mean for Continuous Series: Shortcut Method
• Obtain the mid value of each class and denote it by ‘m’
• Choose any value as an assumed mean ‘A’
• Take the deviation of each data value from the assumed mean such as d = (m-A)
• Multiply the mid-value by their corresponding frequencies Σfd
• Divide Σfd by Σf and add into the assumed mean and hence find the mean of the data.
Mean for Continuous Series: Step Deviation Method
• Find the mid-value ‘m’ of each class interval
• Choose any mid-value as assumed mean ‘A’
• Find d = (m-A)
• Find the step deviations by dividing each deviation by the class interval ‘I’ such as d’ = d/i
• Multiply d’ with the corresponding frequencies and find Σfd’
• Find the sum of frequencies Σf
• Divide Σfd’ by Σf and then multiply this value by ‘I’ and add it to the assumed mean.
• This is the required value of the mean of the data given.
DESCRIPTIVE STATISTICS
♦ Playlist https://www.youtube.com/watch?v=ApYbHapgNos&list=PL2H1lLi34F7iiBJbzwsj6FyN9_1p6Dl3p
• Population, Sample, and Statistical Inferences https://www.youtube.com/watch?v=ApYbHapgNos
• Scales of Measurements (Hindi) https://www.youtube.com/watch?v=xYa2H0v2ins&t=112s
• What are the Measures of Central Tendency https://www.youtube.com/watch?v=_8dJYsa2MG8&t=86s
• How to find Median and Mode (Individual, Discrete and Continuous Data) https://www.youtube.com/watch?v=WFF-b3CG0TY
• How to find Partition Values (Quartiles, Deciles, and Percentiles) https://www.youtube.com/watch?v=faWLnDJzZIk&t=79s
• Measures of Dispersion (Range, Standard Deviation, and Coefficient of Variation) https://www.youtube.com/watch?v=9jd2115vASU&t=46s
• How to create a Pie Chart in Statistics https://www.youtube.com/watch?v=SclxYIlAR3g
• How to create a Bar chart in Statistics https://www.youtube.com/watch?v=kzFUrBFjAMQ
• How to create a Frequency Polygon or Ogive in Statistics https://www.youtube.com/watch?v=4zv9hOzMmUw
• How to find Skewness (Hindi) https://www.youtube.com/watch?v=GQtp3JC2KRs&t=87s
• How to find Kurtosis (Hindi) https://www.youtube.com/watch?v=2oqVh7FnPJA
• Kurtosis explained in detail https://www.youtube.com/watch?v=ibGI_jd82TA
CORRELATION ANALYSIS (Hindi)
♦ Playlist https://www.youtube.com/watch?v=mnNGaXqRsDM&list=PL2H1lLi34F7hM-TfvCaB5pd1Q6_HDHVQp
• What is Correlation? https://www.youtube.com/watch?v=mnNGaXqRsDM
• Types of Correlation https://www.youtube.com/watch?v=Df5csQZxBP8
• Correlation and Causation https://www.youtube.com/watch?v=5AaAEwBS7IA
• Degrees of Correlation https://www.youtube.com/watch?v=h6yQuznQO40
• Karl Pearson Correlation Coefficient https://www.youtube.com/watch?v=Lkp_rJ_9w8c
• Probable Error https://www.youtube.com/watch?v=13btlf1MJFU
• Spearman's Rank Correlation when Ranks are given https://www.youtube.com/watch?v=NLqpHqNg6a8
• Spearman's Rank Correlation when Ranks are not given https://www.youtube.com/watch?v=l1_7u_0mETE
• Comparing Rank Correlation https://www.youtube.com/watch?v=j4DYlj9HyW0
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