Which of the following is/are measure(s) of central tendency? <ul> <li> Variance </li> <li> Mean </li> <li> Median </li> <li> Mode </li> </ul>

Good job! Mean, mode, and median are all measures of central tendency.

Which of the following is NOT a measure of central tendency? <ul> <li> Variance </li> <li> Mean </li> <li> Median </li> <li> Mode </li> </ul>

Good job! The variance is not a measure of central tendency. Rather, it is a measure of dispersion, that is, how spread out the data is.

How might a marketer find value in knowing the middle of a dataset? I. It can help predict future sales numbers. II. It can help assess the impact of marketing efforts. III. It can provide a reasonable baseline for what to expect from a particular demographic.

Good job! In practice, a great many data values will fall close to the middle of a given dataset. This can be very useful if you want to avoid either over- or underestimating a characteristic of the population (which is often the case). They can also provide insight into how impactful marketing efforts are.

Practice Quiz: Measures Of Central Tendency » Week 1 » Statistics For Marketing

Q: Based on the video, what are measures of central tendency?

Good job! Measures of central tendency are a way of describing the “middle” of a dataset. Because datasets can be vastly different, the methods for determining their middles can be different as well. The three most common measures are the mean, median, and mode.

Q: What is the mean of the following set of numbers? 1, 4, 3, 10, 12

Good job! The mean is calculated by adding up all the values in the set and dividing by the number of values that you added together. In this case, the sum of these five numbers is 30. Dividing this by 5 gets us 6 as the mean.

Q: What is the mean of the following set of numbers? 1, 2, 2, 3, 14, 2

Good job! The mean is calculated by adding up all the values in the set and dividing by the number of values that you added. In this case, the sum of these six numbers is 24. Dividing this by 6 gets us 4 as the mean.

Q: Which measure of central tendency would be the most reasonable for defining the middle of the dataset below? -2, 4, 1, -1, 3, 73

Good job! The median is the most suitable measure of central tendency for finding the middle of this set of numbers. The value of 73 is much larger than the rest of the data values and will pull the mean value to the right. The median, on the other hand, will not be skewed by a small proportion of outliers.

Q: Calculate the median for the following set of numbers. 7, 6, -2, 4, 5, -1, 2

Good job! The median is the middle data value in the sorted dataset.

Q: Calculate the median for the following set of numbers. -4, 1, 7, -2, 48, 22, -11

Good job! When this list is sorted, the number in the middle will be 1. Therefore 1 is the median.

Q: Calculate the median for the following set of numbers. 1, 2, 2, 3, 14, 2

Good job! The median is the middle data value in the sorted dataset. In this case, there are an even number of data values so the median is the average of the middle two values in the sorted dataset. Since both of these middle values are 2, their average is also 2.

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Practice Quiz: Measures of Central Tendency

Q:

Which of the following is/are measure(s) of central tendency? Variance Mean Median Mode

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Which of the following is NOT a measure of central tendency? Variance Mean Median Mode

Q:

Based on the video, what are measures of central tendency?

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How might a marketer find value in knowing the middle of a dataset?I. It can help predict future sales numbers.II. It can help assess the impact of marketing efforts.III. It can provide a reasonable baseline for what to expect from a particular demographic.

Q:

What is the mean of the following set of numbers? 1, 4, 3, 10, 12

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What is the mean of the following set of numbers? 1, 2, 2, 3, 14, 2

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Which measure of central tendency would be the most reasonable for defining the middle of the dataset below? -2, 4, 1, -1, 3, 73

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Calculate the median for the following set of numbers. 7, 6, -2, 4, 5, -1, 2

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Calculate the median for the following set of numbers. -4, 1, 7, -2, 48, 22, -11

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Calculate the median for the following set of numbers. 1, 2, 2, 3, 14, 2

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In a spreadsheet, the following formula will find the mean of the numbers in the cells D2 to D20. AVERAGE(D2:D20)

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In a spreadsheet, the following formula will find the mode of the numbers in the cells A1 to A1000. =(MODE A1:A1000)

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In a spreadsheet, the following formula will find the mean of the numbers in the cells E200 to E350. =AVERAGE(E200:E350)

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Under what circumstances would you want to use the median over the mean when finding the middle of a dataset?

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What is an advantage the median has over the mean?

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What is the mode for the following set of numbers? 3, 1, 10, 9, 2, 5

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What is the mode(s) for the following set of numbers? 7, -7, 4, 0, -1, -7, 0