Robin Hood and His Outliers: Chapter Two-Robin Hood Tames the Standard Deviate

37 Pages Posted: 2 Apr 2008

See all articles by Barbara Pfeffer Billauer

Barbara Pfeffer Billauer

Institute of World Politics; International Program in Bioethics, U. of Porto; Foundation for Law and Science Centers, Inc.

Date Written: 2008

Abstract

This is an original, hypothetical case study to be used for teaching "arithmetically averse" students of all ages. Chapter one has already been posted on SSRN. This chapter, a continuation of the "Robin Hood and His Outliers Saga, an Introduction to Basic Statistics," illustrates the concepts of means, medians, modes, population distributions, (normal and skewed) and the standard deviation. The methodology relies on problem solving, i.e. top-down or unravelling of a problem, rather than the building block method. The case study also includes numerical examples which can be used as teaching tools.

Keywords: means, medians, modes, standard deviation, case study, population distribution, normal distribution, gaussian distribution, skewed populations

JEL Classification: A2, A20, A21, A22, A29, D81, D83, D84

Suggested Citation

Billauer, Barbara P., Robin Hood and His Outliers: Chapter Two-Robin Hood Tames the Standard Deviate (2008). Available at SSRN: https://ssrn.com/abstract=1115024 or http://dx.doi.org/10.2139/ssrn.1115024

Barbara P. Billauer (Contact Author)

Institute of World Politics ( email )

1521 16th St NW,
Washington, DC
United States
+1 202-462-2101 (Phone)

International Program in Bioethics, U. of Porto ( email )

Rua Dr. Roberto Frias
4200-464 Porto
Portugal

Foundation for Law and Science Centers, Inc. ( email )

1020 16th Street NW
Suite LL1
Washington, DC 20036
United States
972 54 344 6055 (Phone)

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