Calculating measures of central tendency and dispersion
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In a recent survey of small bakeries in the Southeast, 10 bakeries report the following number of employees: 15, 14, 12, 19, 13, 14, 15, 18, 13, 19.
Find the mean, median, variance and standard deviation.
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Solution Summary
The following outlines the formulas and method of calculating various measures of central tendency and dispersion for a sample, namely: mean, median, variance, and standard deviation.
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Mean = sum of all employees/ number of stores
= 15+14+12+19+13+14+15+18+13+19 / 10
= 15.2
To calculate the median, re-arrange the figures, in ascending order:
12, 13, 13, 14, 14, 15, 15, 18, ...
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