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    Mean, Medium, Mode and variance

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    Week 2 Discussion Question #1 due day 3:
    A. Population mean versus sample mean. Explain the difference.

    (Please see attachment for formulas)

    B. Mean, median and mode. How are they used and which is more useful. Why?

    C. Variance and standard deviation. What does it measure and which is more useful. Why?

    D. What is the empirical rule?

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    Week 2 Discussion Question #1 due day 3:
    A. Population mean versus sample mean. Explain the difference.

    Answer:

    Population is defined as an entire group of individuals. So, if we are interested in estimating the population mean we can take many repeated samples of size ...

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