After completing this chapter, you will be able to:

1. Calculate the arithmetic mean, weighted mean, median, mode, and geometric mean.
2. Explain the characteristics, uses, advantages, and disadvantages of each measure of location.
3. Identify the position of the mean, median, and mode for both symmetric and skewed distributions.
4. Compute and interpret the range, the mean deviation, variance, and the standard deviation.
5. Explain the characteristics, uses, advantages, and disadvantages of each measure of dispersion.
6. Understand Chebyshev’s theorem and Empirical Rule as they relate to a set of observations.