AAEC 3315 Agricultural Price Theory Chapter 3 Market Demand and Elasticity.
AAEC 4302 ADVANCED STATISTICAL METHODS IN AGRICULTURAL RESEARCH Descriptive Statistics: Chapter 3.
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Transcript of AAEC 4302 ADVANCED STATISTICAL METHODS IN AGRICULTURAL RESEARCH Descriptive Statistics: Chapter 3.
AAEC 4302
ADVANCED STATISTICAL METHODS IN AGRICULTURAL RESEARCH
Descriptive Statistics: Chapter 3
Univariate Statistics of Central Tendency
• There are three alternative statistics (i.e. formulas) to measure the central tendency of a variable:* The Mean* The Median* The Mode
Univariate Statistics of Central Tendency
• For example, if the 15 smallest deer weights are ignored; the mean increases from 61.77 Kg to 64.0 Kg while the median only goes from 64 Kg to 65Kg
• The mode may be a useful statistic in the case of a discrete variable, but not for continuous variables because each observation value is likely to be unique
Univariate Statistics of Dispersion
• The range is a measure of dispersion given by the difference between the greatest and the smallest value of X in the n observations available
p 45
Univariate Statistics: Dispersion
The mean absolute deviation (MAD),MAD in deer weight = 9.00 Kg;
max absolute deer weight deviation is
93 Kg - 61.77 Kg = 31.23 Kg
min absolute deer weight deviation is
32 Kg – 61.77 Kg = -29.77 Kg
Univariate Statistics: Dispersion
• An alternative way to address the canceling out problem is by squaring the deviations from the mean to obtain the mean squared deviation (MSD):
MSD=143.54
nXX
nd
ii
22
Univariate Statistics: Dispersion
• Problem of squaring can be solved by taking the square root of the MSD to obtain the root mean squared deviation (RMSD):
= 11.98
• When calculating the RMSD, the squaring of the deviations gives a greater importance to the deviations that are larger in absolute value, which may or may not be desirable
nXX
MSDRMSD i
2
• Standard deviation S or SX
= 12.01 (3.6)
• n-1 is known as the degrees of freedom in calculating SX
Univariate Statistics: Dispersion
1
2
n
XXs iX