Excel Rules
What formula do we use if we need to find the most frequent number?
Which measure of central tendency is the only one you should use for categorical data?
Mode
What is the simple probability of a customer ordering an Acai Bowl?
25/40 or 0.625
What is the formula we use to calculate a Z-score?
=(X-Xbar)/STDEV.S
What two Excel formulas do you need to subtract to find the Range?
=MAX(array)-MIN(array)
What is the simple probability of a customer ordering a Large Size?
20/40 or 0.5
How do we properly calculate Quartile 1?
=Average(Quartile.exc(array, 1),Quartile.inc(array,1))
If a dataset is heavily skewed by a massive outlier, which is the better measure of central tendency to use, the Mean or the Median?
The median because the mean is affected by outliers.
Using the complement rule, what is the probability that a customer does not order a Pitaya Bowl?
1 - (15/40) = 25/40 or 0.625
What measure tells us how much our data varies from the mean?
Standard Deviation