Chapter 22 Business Statistics

Chapter 22 Business Statistics

1. Mean: average

   • Mean Formula: Sum of products/ Sum of frequencies

2. Median: center of the data

   • Formula: arrange values from least to greatest, the median is the middle value number

3. Mode: records values repeated

   • Example: 2233444567 (the mode is 4 because it repeats the most)

4. Bar Graphs: the changes that have occured over a period of time

5. Line Graphs: shows trends over a period of time

6. Circle Graphs: also known as pie charts, are for showing the relationship of parts to a whole.

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