Population parameters or population characteristics can be estimated by taking representative samples of a population. In other words, conclusions about an entire population can be inferred from a sampling of that population. This sampling of the population can then be examined and inferences made about the general population it represents. Various measures provide different types of data or measures of data from which conclusions can be derived. Examples of these types of measures are Measures of Central Tendency and Measures of Dispersion.
Address all of the following questions in a brief but thorough manner.
What are the most common measures of central tendency? Include brief definitions for the common measures of central tendency as part of your initial posting.
How do these measures differ? How are they the same?
What information is provided by each of these measures and what do they tell us? How could you use measures of central tendency in decision making as a leader and/or manager?
What are the various measures of dispersion?
What are the uses of these measures and what are their limitations?
What does each of these measures tell a researcher? A leader or manager?
The final paragraph (three or four sentences) of your initial post should summarize the one or two key points that you are making in your initial response.
Your posting should be the equivalent of 1 to 3 single-spaced pages (500–1500 words) in length.