Intro to Business Statistics

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Midpoint

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Intro to Business Statistics

Definition

The midpoint is the value that divides a dataset into two equal halves, such that half of the data points are below this value and half are above it. It's commonly used to determine the central tendency in descriptive statistics.

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5 Must Know Facts For Your Next Test

  1. The midpoint is also known as the median in statistics.
  2. In an ordered dataset, if there is an odd number of observations, the midpoint is the middle value.
  3. For an even number of observations, the midpoint is calculated as the average of the two middle values.
  4. The midpoint is less affected by outliers compared to other measures like the mean.
  5. It provides a better measure of central tendency for skewed distributions than the arithmetic mean.

Review Questions

  • How do you determine the midpoint in a dataset with an even number of observations?
  • Why might you prefer using the midpoint over the mean in a skewed distribution?
  • What is another term commonly used for 'midpoint' in statistics?
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