Discussion Week 3
This video focuses on when to use a mean and when to use a median. When data all have similar values, such as housing prices of similar-sized houses on the same block, then the mean is an appropriate measure, but if the value of one residence is 50 times as high as the others, then the median gives a better description of a typical value than the mean.
https://mediaplayer.pearsoncmg.com/assets/cWSUSyFyf2fjOGj5lEJQ_w73ZBZdo4JW
However, you want to get away from the idea that the data, and only the data, drives the choice of descriptive statistics. The example is given that, if you wanted to buy all the houses in Brooklyn, if you took the median, and multiplied by the number of houses, you wouldn’t have enough cash. So, the median is a useful descriptive statistic, but the mean is essential for planning and making decisions.
Option 1: Find an article that mentions a new drug that promises an improved survival rate.
Identify whether this rate represents the mean or the median of the data set.
Assess whether that is ideally what you’d want to know for this data.
Provide a specific reason for your answer.
