Robin Hood and His Outliers: A Case Study in Introductory Statistics for the Arithmetically Averse - Chapter One

Abstract

Through a mythical case study students are introduced into basic concepts of statistics. The case study also provides the opportunity for students to perform simple exercises using these concepts.

Part I explores the concepts of means, medians and modes, and discusses the uses and limitations of these measurements. In addition the graphical representation of skewed population samples are introduced.

Part II discusses the concept of standard deviation and its use in interpreting statistical evidence.

Keywords: means, averages, medians, modes, skewed populations

JEL Classification: A20, A21, B41, D63, D61, A29, C89, C49