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 Using your readings this week, identify some measures of central tendency and dispersion. When might you use a mean versus a mode or median?

Numerical Measures

Discussion Resources

The following resources will help you complete the discussion and may be useful in completing your second assignment.

·
Estimations [PDF]
.

. This short reading includes five sample applications of the “big 5” parameters.

· Lind, D. A., Marchal, W. G., & Wathen, S. A. (2019). Basic statistics for business and economics (9th ed.). New York, NY: McGraw-Hill.

. Chapter 3, “Describing Data: Numerical Measures.”

. A discussion of what average means in common conversation leads to instructions for calculating measures of location, otherwise known as the meanmedian, and mode.

· Thomas, R., & McSharry, P. (2015). 
Big data revolution: What farmers, doctors, and insurance agents can teach us about patterns in big data.
 West Sussex, England: Wiley.

· Chapter 3, “Revolutionizing Insurance: Why Actuaries Will Become Data Scientists.”

· Chapter 4, “Personalizing Retail and Fashion.”

. This text provides practical examples of the use of analytics.

Instructions

Using your readings this week, identify some measures of central tendency and dispersion. When might you use a mean versus a mode or median?