Business Statistics

Chapter 4

Measures of Dispersion

A judicious man uses statistics, not to get knowledge, but to save himself from having ignorance foisted upon him

 

– Thomas Carlyle

LEARNING OBJECTIVES

Upon completion of this chapter, you will be able to:

• Understand the concept of range, quartile deviation, mean deviation, standard deviation, and variance.
• Compute range, quartile deviation, mean deviation, standard deviation, and variance.
• Understand skewness, kurtosis, and box-and-whisker plots.
• Compute the coefficient of correlation and understand its interpretation.
• Use MS Excel, Minitab, and SPSS for computing range, quartile deviation, mean deviation, standard deviation, skewness, kurtosis, and coefficient of correlation.
• Use Minitab and SPSS for box-and-whisker ...