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Author Question: What does the median of the data measure? a. Outliers b. Spread c. Location d. ... (Read 90 times)

itsmyluck

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on: Jun 24, 2018
What does the median of the data measure?
 a. Outliers
 
  b. Spread
 
  c. Location
 
  d. Shape

Question 2

Suppose we have a 0-1 output for whether a bidder wins a contract in a bidding model (0=bidder does not win contract, and 1=bidder wins contract). From the mean of this output, what can we determine?
 a. the mean number of bidders
  b. the average winning bid
  c. the probability that the bidder will win the contract
  d. the standard deviation of the next highest competitor's bid
  e. none of these choices


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mjbamaung

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Reply #1 on: Jun 24, 2018
Answer to Question 1

c

Answer to Question 2

c


itsmyluck

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

matt95

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Reply 3 on: Yesterday
Wow, this really help

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