By L. Kazmier
Boiled-down necessities of the top-selling Schaum's define sequence, for the coed with constrained time
What can be greater than the bestselling Schaum's define sequence? for college kids searching for a short nuts-and-bolts assessment, it can need to be Schaum's effortless define sequence. each publication during this sequence is a pared-down, simplified, and tightly targeted model of its greater predecessor. With an emphasis on readability and brevity, each one new name contains a streamlined and up-to-date layout and absolutely the essence of the topic, awarded in a concise and quite simply comprehensible shape. picture components comparable to sidebars, reader-alert icons, and boxed highlights function chosen issues from the textual content, remove darkness from keys to studying, and provides scholars speedy tips that could the essentials.
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Additional resources for Schaum's Easy Outline of Business Statistics
The sample variance is represented by s2; its formula is: s2 = ∑( X − X ) 2 n −1 In general, it is difficult to interpret the meaning of the value of a variance because the units in which it is expressed are squared values. Partly for this reason, the square root of the variance, represented by the Greek s (or s for a sample) and called the standard deviation is more frequently used. The formulas are: ∑( X − m) N Population standard deviation: s = Sample standard deviation: s = ( ∑ X−X n −1 2 )2 Note!
The computational formulas are: Population variance: s 2 = ∑ X 2 − Nm 2 N Population standard deviation: s = Sample Variance: s 2 = ∑ X 2 − Nm 2 N ∑ X 2 − nX 2 n −1 Sample standard deviation: s = ∑ X 2 − nX 2 n −1 Mathematical Criterion Associated with the Variance and Standard Deviation In Chapter 3 we described the least-squares criterion and established that the arithmetic mean is the measure of data location that satisfies this criterion. Now refer to the formula for population variance and note that the variance is in fact a type of arithmetic mean, in that it is the sum of squared deviations divided by the number of such values.
From the standpoint of using the measure of variability that is most stable, the least-squares oriented s chart is preferred. Historically, the range has been used most frequently for monitoring process variability because it can be easily determined with little calculation. However, availability of more sophisticated weighing devices that are programmed to calculate both the sample mean and standard deviation has resulted in greater use of s charts. The Coefficient of Variation The coefficient of variation, CV, indicates the relative magnitude of the standard deviation as compared with the mean of the distribution of measurements, as a percentage.