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In this video, we simulate working out the averages of the salary structure of a company. We start by looking at how to find the mean and the limitations of using the mean. We then looked at mode, median and range.
Finally, we finish by looking at finding the upper and lower quartiles and discuss how these can be used to calculate different averages.
Check it out and let me know what you think.
The chapters are divided here:
00:00 - Intro
00:24 - Salary structure
01:26 - How to calculate the mean
02:58 - Remove the outlier
03:56 - Analyse the mean
04:35 - How to find the mode
06:00 - How to find the median
07:35 - How to find the range
08:05 - Spread of the data
09:13 - Intro to quartiles
09:55 - Finding the median from quartiles
10:27 - How to calculate the lower quartile Q1
11:31 - How to calculate the upper quartile Q3
12:38 - Interpreting the quartiles
13:09 - Calculate interquartile range
14:38 - Outro