Robin Hood and His Outliers: Chapter Two-Robin Hood Tames the Standard Deviate
37 Pages Posted: 2 Apr 2008
Date Written: 2008
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: Suggested Citation