Discuss the difference between convenience and random sampling.
Obtaining a Suitable Sample
Watch the “Obtaining a Suitable Sample” video.
Consider the following as you watch:
• Discuss the difference between convenience and random sampling.
• Explain how you can obtain a sample size representative of a population.
• Provide three examples.
• Explain why a sample is used in place of the population.
DQ2 Measuring Central Tendency and Variability
Watch the “Measuring Central Tendency and Variability” video.
Consider the following as you watch:
• Define the three standard measurements of the central tendency and provide example of each.
• Explain when you might want to use a median number.
• Provide an example.
• Define a standard deviation and what a standard deviation shows, provide an example.
DQ3 Mean, Median, and Variability
Watch the “Measuring Central Tendency and Variability” video.
Consider the following as you watch:
• Define the three standard measurements of the central tendency and provide example of each.
• Explain when you might want to use a median number.
• Provide an example.
• Define a standard deviation and what a standard deviation shows, provide an example.
DQ4 Mean, Median, and Mode
Watch the “Statistics Intro: Mean, Median, and Mode” video.
Consider the following as you watch:
• Explain how mean is calculated.
• Explain how a median is calculated with an even number list.
• Define an array.
• Provide an example.
• Define a mode.
• Identify if you can have more than one modal number in a set of data.
DQ5 Finding the Range and Mid-Range
Watch the “Finding the Range and Mid-Range” video.
Consider the following as you watch:
• Define a range and provide two examples.
• Calculate a mid-range and provide two examples
DQ6 Descriptive Statistics
Read Case Study 3.3 in Ch. 3 of Essentials of Business Statistics found on page 98.
Click the Fort Myers Sales Data Set link.
Calculate descriptive statistics:the mean, median, mode, and standard deviation in the two sample periods (January and July).
Discuss one of the following:
• Identify what changes occurred in the Fort Myers housing market during the 6-month period.
• Explain what conclusions you can draw from the data.
• Identify what additional data you might want to understand the housing market better.
• Explain what role descriptive statistics play in understanding the housing marke
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