Effectiveness Of Fiscal And Monetary Policies Essay

Effectiveness of fiscal and monetary policies to manage inflation, economic growth and exchange rate volatility in recent years in Kenya. Fiscal policy refers to government policies concerning taxes and government spending while monetary policy refers to all actions by the Central Bank to control the quantity of money supply and availability of credit in the economy. Fiscal and monetary policies play a critical role in influencing the pace at which an economy will grow and its capacity to deal with key challenges both endogenous and exogenous. Kenya faces various domestic policy challenges which include a high population growth rate, high unemployment rate, significant weaknesses in infrastructural capacity, inadequate levels of domestic savings and investments, and poorly capacitated counties to handle devolution. External challenges include security risks and spillover effects from other parts of the global economy. Fiscal and monetary policies affects the macroeconomic stability of the country and whether Kenya will transition into a middle income nation by 2030 as envisioned in vision 2030 through an annual econom ic growth rate of 10% p.a. These policies therefore need to be responsive in addressing these challenges as well as propel the country to economic growth while maintaining price stability. The country should therefore give priority to the following key areas. First, prudent and transparent county and national government spending. Of importance is allocating atShow MoreRelatedDo Fiscal and Monetary Policy Stimulate the Economy? Essays1467 Words   |  6 Pagesgovernment implements and enforces certain policies that apply to specific situations and circumstances. Such policies guide the government into influencing and controlling the direction of activity through borrowing, spending, and taxes. Those policies are called economic policies, which are also implemented to control the total demand for final goods and services in the economy at a given time and price level (aggregate demand). There are two policies that specifically control aggregate demandRead More Use of Monetary Policy and Fiscal Policy During The Great Recession1110 Words   |  5 PagesHow can monetary policy and fiscal policy greatly influence the US economy? Keynesian economics says, â€Å"A depressed economy is the result of inadequate spending .† According to Keynesian the government intervention can help a depressed economy through monetary policy and fiscal .The idea established by Keynes was that managing the economy is a government responsibility . Monetary policy uses changes in the quantity of money to alter interest rates, which in turn affect the level of overall spendingRead MoreMonetary and Fiscal Policy Essay examples1403 Words   |  6 PagesMonetary and fiscal policy and their applications to the third world countries with a huge informal sector This essay seeks to explain what are monetary and fiscal policy and their roles and contribution to the economy. This includes the role of the government in regulating the economical performance of a country. It also explains the different features and tools of monetary and fiscal policy and their performance when applied to the third world countries with a huge informal sector. Monetary Policy Read MoreDifference Between Fiscal And Monetary Policy Essay1345 Words   |  6 PagesThere are many policies that are enacted continuously that stimulate the economy in the United States. Some of these policies stimulate the U.S. economy in a negative way and some stimulate it in a positive way. One would agree that the U.S. economy is forever changing due to various factors. Some of these economic policies are also developed due to various factors or events that may have occurred in the United States. This paper will discuss some policies that stimulate the economy, their relationRead MoreDiscuss The Best Option For Australia And Will Justify The Rationale1706 Words   |  7 PagesIntroduction The use of both monetary and fiscal policies has been specifically aimed at reducing inflation and implementing policies for sustained economic growth. This paper will present a discussion on the definitions of each policy while examining their role in economy. Based on the obtained insights, the paper will discuss the best option for Australia and will justify the rationale. In the end, the discussion will be given a conclusive shape in which the key learning will be summarized andRead MoreU.s. Japanese Government Policies Essay1048 Words   |  5 Pages Introduction The purpose of this research is to evaluate the effectiveness of a set of the recent Japanese government policies. Before China overtaking the second largest economy in the world in 2011, Japan has kept the position for several decades. However, after the housing bubbles burst in 1990s, Japan had economically struggled where it can no longer grow at such a substantial rate as previously. In fact, its economy had shrunk when other neigbouring economies, such as Taiwan and South KoreaRead MoreThe Alleviation of Poverty Essay1600 Words   |  7 Pagesnation, such as ours, are achieved through the dual use of fiscal and monetary policy. The essay will give a brief description of both policies as well as the manner in which they theoretically operate when attempting to achieve their goals. A look at the current policies currently being used in the country and their success will be assessed in comparison with the policy aims. Lastly, a look at whether the current fiscal and monetary polic ies being used are actually achieving their goals and the reasonsRead MoreMeg Guild . Mr.Bare . Economics . 31 April 2017. Market942 Words   |  4 PagesMeg Guild Mr.Bare Economics 31 April 2017 Market Place Essay Five Key Questions about Macroeconomics Policy The recession in 1974—1975 and two other back to back recessions in 1979—1982, which sent the employment rate to 11%. The inflation rate rose into double digits then plummeted. A period of Great Moderation came after 1985, and the recession of 1990—1991 was more manageable than the previous recession. Unfortunately, this period of tranquility was followed by the Great Recession whichRead MoreRole Of Politics In Macroeconomics729 Words   |  3 Pagesissues through intervention on monetary, fiscal policies and increased government spending during recessions. Some of these political divisions are based on political alliances and belief structures rather than an impartial macroeconomic analysis. The graphs and formulas are confusing for politicians and lay people with many preferring simple yes or no answers. Thus some argue for less active policy towards the economy while another side argues for more active policies and measures. Perhaps it wouldRead MoreThe Affect of Political Instability and Inflation on Pakistan1438 Words   |  6 Pageshas had an adverse affect on our policy formulation, implementation and effectiveness in terms of economic stabilization. Due to an unstable political environment we are unable to implement a set of consistent and coherent policies. This greatly affects the working of a government and reduces its ability to bear shocks which ultimately cause a macroeconomic disequilibrium such as inflation. The conventional view of political instability similar to the weak form Fiscal Theory Price Level is that it leads

The Religion Of The Nation Of Israel - 1228 Words

Abram, a pagan gentile called from a pagan land and culture, became the patriarch of the Nation of Israel. Moreover, through God’s covenant with him his numerous descendants inherited Palestine and from them came Messiah, the blessing to all peoples on earth. Understanding the culture of Ur of the Chaldeans, Abram’s place of origin, requires a determination of where this area was located and analyzing archaeological discoveries of that area in conjunction with other disciplines of biblical study. About 1800 B.C. Abram’s father, Terah, took his family and left Ur for Canaan but settled in Haran where Terah died. Haran was located in the southern part of modern-day Turkey. After his father’s death, Abram was called by God to continue his journey to the land of Canaan and he was called from, â€Å"Ur of the Chaldeans.† Abraham’s call from this pagan culture further affirms that God is both merciful and gracious as well as sovereign over the affairs of mankind. Ur of the Chaldeans is the first reference to the city in the biblical narrative with regards to Abram’s city of origin. Abram’s brother, Haran, died in Ur before Terah, Abram’s and Haran’s father, took the family to the city of Haran, a well-known stop along trade routes in Mesopotamia. The exact location of where the ancient city of Ur was located is debatable. Prior to an 1849 excavation—by Sir. W.K. Loftus—of a site located in modern-day southern Iraq, most scholars placed Ur in the north based on the biblical narrativeShow MoreRelatedEssay On The Election823 Words   |  4 Pages2018. The people of Israel and Palestine grew weary with the violence. Palestinians regained the land they once possessed in the West Bank and Gaza. Negotiation was tough, but it is to most people’s delight that 2 years later the violence has slowly began to terminate. The next question is how Israel moves on from all the violence, and chaos. The upcoming elections become a key factor in Israel’s future condition. 2020 elections have begun, the Unified Constitution for Israel (UCI) party has officiallyRead MoreArab Israeli Conflict Between Arab Nations And Israel1508 Words   |  7 Pagesconflicts amongst certain Arab nations and Israel. The conflict began as a struggle over land, or the area now known as Palestine. This conflict began at the end of the nineteenth century with the rise of Zionism and Arab nationalism. Arab nationalism was a reaction response to Zionism in relation to this conflict. While the Arab nation initiated four wars, Israel defended itself and won each time. What use to be a large-scale conflict between the Arab nation and Israel, as shifted over the years toRead MoreCulture Essay : Israel s Zionists Of America Convention Speech 1708 Words   |  7 PagesCulture Essay: Israel Introduction: Israel was not created in order to disappear- Israel will endure and flourish. It is the child of hope and the home of the brave. It can neither be broken by adversity nor demoralized by success. It carries the shield of democracy and it honors the sword of freedom.This quote from President John F. Kennedy s Zionists of America Convention speech can considerably show that despite the small size of the country, its culture spreads out from many differentRead MoreDr. Leon Pinsker s Life1609 Words   |  7 PagesHis views over time changed based on his experiences. At first, he believed that Jews can assimilate and be part of a nation if equal rights were granted. He believed the Jews were one people, but not one nation. He said, â€Å"They home everywhere, but are nowhere a home... The Jews are not a nation because they lack a certain distinctive national character, inherent to all other nations, which is formed by common residence in a single state.† However, over time he began to realize this was not realityRead MoreUnderstanding The Development Of Monotheism787 Words   |  4 Pagesway that modern believers understand it. In the early days of Israel, they believed that there were many gods, though they could only worship their god, YHWH. Levenson looks at Israel’s past and development to see how monotheism developed. Did it develop from a belief in one God, who is alone YHWH, or through a belief that YHWH is the one God above all other gods? This question is key in understanding the development of monotheism in Israel. For example, one can see how there could be two gods partakingRead MoreDuality As Vitality : Israel s Democratic And Jewish Identity1480 Words   |  6 PagesDemocratic and Jewish Identity Israel is both a Jewish and Democratic state. The skeleton of the state is that of a binary philosophy: a dual identity which on the one hand is a democracy and also a Jewish state. A democracy is a state which respects the inalienable rights, such as freedom of expression and suffrage, and intrinsic dignity of every human being. A Jewish state is a state with a core Jewish cultural and national identity, which respects equality of religion for all and is not theocraticRead MoreEssay on Israels Controversy1036 Words   |  5 Pages Israel is a high controversial state that all have differing opinions on. There are many things that make Israel a hot topic. In order to discover why Israel is so controversial, this paper will delve into the creation of Israel, and how it affects the area around it. Israel was created on November 29, 1947 by the United Nations in Resolution 181. Resolution 181, also known as the Partition Resolution, declared that the territory of Palestine would be divided into two separate states, one JewishRead MoreThe Role Of Politics In Israel1200 Words   |  5 Pages Israel is an extremely valuable ally in a region with significant strategic importance. Strong support from the U.S. provides Israel with more freedom in the region. The ability of the United States to depend on the partnership within an area of so much strife allows them to influence the region with their own interests in mind. Right of entry to their ports in the Mediterranean Sea provides the U.S. easy access to the coastal borders of Egypt and Libya, and working together to counter enemyRead MoreRoyal Ideology in Ancient Israel Essay1054 Words   |  5 Pageswithin Israel. A line of charismatic Judges protected Israel before the adoption of the kingship. Thus it is evident that the change from a patriarchal, loosely-knit tribal rule to a centralised government with a monarch required much self understanding, a strong stance against anti-monarchical views and tolerance of royal ideology, which had in part to be appropriated from neighbouring monarchies. Saul bridged that chasm well as he was chosen by Yahweh primarily as a defender of his nation againstRead MoreIsrael s International Affairs : A Major Issue Of Social Inequality1149 Words   |  5 Pagesof the focus on Israel’s international affairs, ranging from relations with the United States, persistent conflicts with Palestine, and back and forths with Iran, Israel has a major issue of social inequality within their nation. Despite narrowing the number of Israelis in poverty and raising incomes in recent years, Inequality in Israel is still one of the highest of the Western developed countries. According to a report released by the Organization for Economic Co-operation and Development, 18.6%

Alexander II And The Russian Revolution - 897 Words

In the 1800’s Russia was facing a very difficult time. Russia’s recent defeat in the Crimean war was a wake up call to the autocracy. This defeat proved to the autocracy that Russia had fallen dangerously behind their western neighbors, ultimately making it easy for other countries to attach and invade. At that point, Russia knew it was time for a change and it started with Tsar Alexander II. Alexander II took over as emperor due to his fathers (Nicholas I) death in St. Petersburg. Some say the reason for Russia’s backward spiral was because of him. However, in 1855 the reign of Alexander II in Russia began and during his time he directed a period of political and social reforms. Some of the reforms Alexander II thought had to be changed included: education, military, government, and judicial. Even after trying to make multiple changes and reforms to better the government, someone was still not clicking in the Russian government. The main reason the society had s o many problems dealt with the peasants. As many soviet historians have claimed, these reforms were put in place to pacify the peasantry in order to ward off revolution. During this time the peasants had to work on their lord owners land and didn’t have many other options. While under the new Tsar Alexander II the government ran into a dry wall and needed a way out. Alexander II did something that to this day goes down as two perspectives. The first one can be seen as a charter of freedomShow MoreRelatedCompare and contrast Alexander II and Alexander III Essay1139 Words   |  5 Pagesï » ¿Compare and contrast Alexander II and Alexander III Although they were father and son, the reigns of Alexander II and Alexander III took off in completely different directions. Alexander II was committed to his empire by vowing to reform Russia, making it more in line with nineteenth-century western society. His son, on the other hand, was the unprepared tsar, whose actions were literally reactions to his father’s unexpected assassination. Consequently, Alexander II went down in history as muchRead MoreThe World And Expanse Of Time901 Words   |  4 PagesRussia at the time, Nicholas II, and the qualities attributed to him as an individual. These are the qualities which may have not only led to Russia’s involvement in WWI, but also can be attributed to Russia’s loss in Russo-Japanese War, further destabilization of Russia’s central government under Nicholas II, and ultimately the collapse of the Russian Monarchy, all culminating in the 1917 Russian Revolution. Nicholas II was the first-born child of Emperor Alexander III of Russia, and being so, hisRead MoreThe Soviet Revolution Of Russia926 Words   |  4 Pagesthe land. The Russian Tsars/Tsarinas, considered themselves the father or mother of the entire land and it was a very big land. Russian history had been prone to revolutions. Many a Tsar found himself on the short end of a sword or just the right amount of poison in his drink. All of the monarchs of Russia had this history in their minds when they began to rule but as the parent of their nation, they had no choice but to rule and do the best they could. Revolution was part of Russian life. There hadRead MoreThe Church of the Savior on Spilled Blood Essay913 Words   |  4 PagesBlood is the building is the largest monument of Russian mosaic art. It stands on the shores of the Neva River on the site where on March 1, 1881 Tsar-Liberator Alexander II was mortally wounded by Nikolai Rysakov, a young member of the Narodnaya Volya (Peoples Will) movement. Upon Tsar’s death, Russia suffered a devastating blow to the rapid advancing economical and social foundations and sent Russia back to the days of blood and Dark Age. Russian people not only lost their beloved Tsar but lostRead MoreThe Impact Of Political Change On Russia1277 Words   |  6 Pageswhich had led to a political turning point. Reforming leaders such as Alexander II, Nicholas II, Stalin and Khrushchev all played significantly big roles in also bringing about some political change for Russia. Although events such as War and the acts of leaders did accelerate politic al change for Russia, we must not forget the impact that Revolutionary movements such as the Murder of Alexander II and the Bolsheviks revolution had. The Crimean war of 1853-1856 was fought at Crimean PeninsulaRead MoreEssay On The 1905 Russian Revolution1042 Words   |  5 PagesProfesor Kakounis Ph.D Global History I 31 October 2017 1905 Russian Revolution The Russians had protested against a corrupt government and their unfair laws. There were many different causes, events, effects, and compromises that happened. The Russians had fought long and hard to be able to get where they are today and get a fair and just system of government. The people involved in the Revolution was, Alexander I, Alexander II, Alexander III, Soviet, Nicholas ll, USSR, Bolshevik Party, Lenin, SocialRead MoreEssay on Russian Revolution946 Words   |  4 PagesDuring the 1900’s the Russian Government made it extremely hard for the Bolsheviks to progress which made them revolt against the government making this a prime matter for the start of the Revolution. The Czarist government was ostracized by the common people of Russia so Tsar Nicholas II was overthrown by the Provisional Government, whom later on were overthrown by Lenin and shortly after the Bolsheviks took control over Russia. Russia was hard to develop because of the major leaders who had contr ol;Read MoreAlexander the Second and the Title Tsar Liberator Essay821 Words   |  4 PagesAlexander the Second and the Title Tsar Liberator In the 19th Century, Russia had no zemstva, very little education, industry and railway building, a biased judicial system and very few freed peasants. Czar Alexander II, who succeeded Nicolas I in 1855, went some ways to remedying these deficiencies through a series of reforms. Alexander II became the great modernizer of Russia, walking a delicate line between preserving Russias Slavic identity and enabling its peopleRead MoreThe Abdication of Tsar Nicholas II was a Turning Point for Russian Politics1749 Words   |  7 Pageswas the abdication of Tsar Nicholas II the key turning point in Russia’s political development 1856-1964? From 1856 onwards the aim of turning Russia from a once agrarian, illiterate and backwards country and into a political superpower was set. A multitude of developments began with Nicholas II being a catalyst of change for the Russian people. Writers of Marxist Russia such as Joan Hasler1 however believe that the Tsars abdication merely prevented revolution happening for a few years. The significanceRead MoreThe Rising Of The Decembrist Russia1407 Words   |  6 Pagesrising of the Decembrist Russia was due to a confusion over the next succession. In 1825, Alexander I died suddenly. Alexander s younger brother, Constantine, who was next in line, had no desire to assume the throne of such a burdensome empire, so he gave his right of succession to his brother Nicholas. Nicholas, however, had been left unaware of the official details of the change and on learning of Alexander s death he proclaimed Constantine emperor at St. Petersburg, at the same time as Constantine

Business Decision Making Assiment free essay sample

You should sign this sheet to show that you comply with these regulations. Student’s Signature Date Acknowledgement I take this chance to thank Miss. M. PriyanthimalaWho helped me to improve and developed this particular project. She explained well about the project and sacrificed her most of the time to explain and also made sure that all the students understood. She was ready to help out in any time and gave her full support for this particular project. I finally would like to thank my parents, friends and others for helping to do this project. Thank you TASKS| PAGE NO| Task 01| 04| Task 02| 09| Task 03| 14| Task 04| 16| Task 05| 24| Task 06| 27| Task 07| 31| Task 08| 32| Task 09| 34| Task 10| 35| Task 11| 38| Task 12| 43| Task 13| 44| Task 14| 47| Task 15| 49| Reference | 51| Task 1 T 1. 1 Difference between a sample and a population Population| Sample| * Population is the area in which you are trying to get information from. * This meaning of population is also used in survey research, but this is only one of many possible definitions of population. Examples: Cedar Crest students; trees in North America; automobiles with four wheels; people who consume olive oil. | * Sample is a section of your population that you are actually going to survey. It is important to have a sample that will represent your entire population in order to minimize biases. Survey research is based on sampling, which involves getting information from only some members of the population. * Samples can be drawn in several different ways, such as probability samples, quota samples, purposive samples, and volunteer samples. Examples assuming the populations stated above: 47 Cedar Crest students chosen randomly; 8463 trees randomly selected in North America; 20 sample autos from each make (e. g. , GM, Ford, Toyota, Honda, etc. ); 1% of the oil consuming population per country| T 1. 2 Describe the advantages of sampling * Sampling  saves money  as it is much cheaper to  collect  the desired information from a small  sample  than from the whole population. * Sampling  saves a lot of time and energy as the needed data are collected and processed much faster than census information. And this is a very important consideration in all types of investigations or surveys. * Sampling  provides information that is almost as accurate as that obtained from a complete census; rather a properly designed and carefully executed  sample  survey will provide more accurate results. Moreover, owing to the reduced volume of work, persons of higher caliber and properly trained can be employed to analyze the data. * Sampling  makes it possible to obtain more detailed information from each unit of the  sample  as collecting data from a few units of the population (i. e. ample) can be more complete and thorough. * Sampling  is essential to obtaining the data when the measurement process  physically  damages or destroys the  sampling  unit under  investigation. For example, in order to measure the average lifetime of  light bulbs, the measurement process destroys the  sampling  units, i. e. the bulbs, as they are used until they burn out. A manufacturer will therefore use only a  sample  of  light bulbs  for this purpose and will not burn out all the bulbs produced. Similarly, the whole pot of soup cannot be tasted to determine if it has an acceptable flavor. Sampling  may be the only means available for obtaining the needed information when the population appears to be infinite or is inaccessible such as the population of mountainous or thickly forested areas. In such cases, taking $ complete census to  collect  data would neither be  physically  possible nor practically feasible. * Sampling  has much smaller â€Å"non-response†, following up of which is much easier. The term non-response means the no availability of information from some  sampling  units included in the  sample  for any reason such as failure to locate or measure some of the units, refusals, not-at-home, etc. Sampling  is extensively used to obtain some of the census information. * The most important advantage of   sampling  is that it provides a valid measure of reliability for the  sample  estimates  and this is one of the two basic purposes of  sampling. * Reliability: If we collect the information about all the units of population, the collected information may be true. But we are never sure about it. We do not know whether the information is true or is completely false. Thus we cannot say anything with confidence about the quality of information. We say that the reliability is not possible. This is a very important advantage of sampling. The inference about the population parameters is possible only when the sample data is collected from the selected sample. * Sometimes the experiments are done on sample basis. The fertilizers, the seeds and the medicines are initially tested on samples and if found useful, then they are applied on large scale. Most of the research work is done on the samples. * Sample data is also used to check the accuracy of the census data. T 1. 3 Difference between primary data and secondary data T1. 4 Difference between a statistic and a parameter Parameter is any characteristic of the population. Statistic on the other hand is a characteristic of the sample. Statistic is used to estimate the value of the parameter. Note that the value of statistic changes from one sample to the next which leads to a study of the sampling distribution of statistic. When we draw a sample from a population, it is just one of many samples that might have been drawn and, therefore, observations made on any one sample are likely to be different from the ‘true value’ in the population (although some will be the same). Imagine we were to draw an infinite (or very large) number of samples of individuals and calculate a statistic, say the arithmetic mean, on each one of these samples and that we then plotted the mean value obtained from each sample on a histogram (a chart using bars to represent the number of times a particular value occurred). This would represent the sampling distribution of the arithmetic mean. T1. 5 Define sampling errors with example? Sampling error is an error that occurs when using samples to make inferences about the populations from which they are drawn. There are two kinds of sampling error: random error and bias. Random error is a pattern of errors that tend to cancel one another out so that the overall result still accurately reflects the true value. Every sample design will generate a certain amount of random error. Bias, on the other hand, is more serious because the pattern of errors is loaded in one direction or another and therefore do not balance each other out, producing a true distortion. These are the errors which occur due to the nature of  sampling. The  sample  selected from the population is one of all possible samples. Any value calculated from the  sample  is based on the sample  data and is called  sample  statistic. Task 2 T2. 1 Advantages and disadvantages of arithmetic mean. Advantages * Fast and easy to calculate- As the most basic measure in statistics,  arithmetic average is very easy to calculate. For a small data set, you can calculate the arithmetic mean quickly in your head or on a piece of paper. In  computer programs  like Excel, the arithmetic average is always one of the most basic and best known functions. Here you can see the  basics of arithmetic average calculation. * Easy to work with and use in further analysis- Because its calculation is straightforward and its meaning known to everybody,  arithmetic average  is also more comfortable to  use as input to further analyses and calculations. When you work in a team of more people, the others will much more likely be familiar with  arithmetic average  than  geometric average  or  mode. Disadvantages * Sensitive to extreme values- Arithmetic average is extremely sensitive to extreme values. Therefore,  arithmetic average  is not the best measure to use with data sets containing a few extreme values  or with more  dispersed (volatile) data sets  in general. Median  can be a better alternative in such cases. * Not suitable for time series type of data- Arithmetic average  is perfect for measuring central tendency when you’re working with data sets of independent values taken at one point of time. There was an example of this in one of the previous articles, when we were  year. However, in finance you often work with percentage returns over a series of multiple time periods. For  calculating average percentage return over multiple periods of time,  arithmetic average is useless; as it fails to take the different basis in every year into consideration (100% equals a different price or portfolio value at the beginning of each year). The more volatile the returns are, the more significant this weakness of arithmetic average is. Here you can see the example and reason why  arithmetic average fails when measuring average percentage returns over time. * Works only when all values are equally important- Arithmetic average treats all the individual observations equally. In finance and investing, you often need to work with unequal weights. For example, you have a portfolio of stocks and it is highly unlikely that all stocks will have the same weight and therefore the same impact on the total performance of the portfolio. Calculating the average performance of the total portfolio or a basket of stocks is a typical case when  arithmetic average is not suitable  and it is better to use weighted average instead. You can find more details and an example here:  Why you need weighted average for calculating total portfolio return. T2. 2 Comparative picture of median, mode, mean The Median The Median is the middle value in your list. When the totals of the list are odd, the median is the middle entry in the list after sorting the list into increasing order. When the totals of the list are even, the median is equal to the sum of the two middle (after sorting the list into increasing order) numbers divided by two. Thus, remember to line up your values, the middle number is the median! Be sure to remember the odd and even rule. That is, if the data is in meters, the standard deviation is in meters as well. The variance is in meters2, which is more difficult to interpret. Neither the standard deviation nor the variance is robust to outliers. A data value that is separate from the body of the data can increase the value of the statistics by an arbitrarily large amount. The mean  absolute deviation (MAD) is also sensitive to outliers. But the MAD does not move quite as much as the standard deviation or variance in response to bad data. The  interquartile range (IQR) is the difference between the 75th and 25th percentile of the data. Since only the middle 50% of the data affects this measure, it is robust to outliers. T3. 2 What are the different characteristics of the following measures of dispersion. The  range  is the simplest measure of  dispersion. The range can be thought of in two ways. 1. As a quantity: the difference between the highest and lowest scores in a distribution. 2. As an interval; the lowest and highest scores may be reported as the range. By far the most commonly used measures of dispersion in the social sciences are  variance  and  standard deviation. Variance  is the average squared difference of scores from the mean score of a distribution.