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ECO 578 FINAL EXAM 1















Part A: Answer the following questions (1-5)









1.	What are the measures of central tendency? Arithmetic mean

Median Mode

2.	What are the characteristics of mean, median, and mode?



Mean = the average of a data set; sum of a set of numbers divided by total number in the set Median = the middle value of a set of data (when data is listed in order)

Mode = the value that appears most often in a data set



3.	What is the sampling error?



The sampl...
ECO 578 FINAL EXAM 1















Part A: Answer the following questions (1-5)









1.	What are the measures of central tendency? Arithmetic mean

Median Mode

2.	What are the characteristics of mean, median, and mode?



Mean = the average of a data set; sum of a set of numbers divided by total number in the set Median = the middle value of a set of data (when data is listed in order)

Mode = the value that appears most often in a data set



3.	What is the sampling error?



The sampl...