Descriptive Statistic
Descriptive Statistic
Mean
It is the sum of observations divided by the total number of observations. It is also defined
as average which is the sum divided by count.
where,
x = Observations
n = number of terms
Measure of Variability
Measures of variability are also termed measures of dispersion as it helps to gain insights
about the dispersion or the spread of the observations at hand. Some of the measures
which are used to calculate the measures of dispersion in the observations of the
variables are as follows:
Range
Variance
Standard deviation
Range
The range describes the difference between the largest and smallest data point in our
data set. The bigger the range, the more the spread of data and vice versa.
Variance
It is defined as an average squared deviation from the mean. It is calculated by finding the
difference between every data point and the average which is also known as the mean,
squaring them, adding all of them, and then dividing by the number of data points present
in our data set.
where,
x -> Observation under consideration
N -> number of terms
mu -> Mean
Standard Deviation
It is defined as the square root of the variance. It is calculated by finding the Mean, then
subtracting each number from the Mean which is also known as the average, and
squaring the result. Adding all the values and then dividing by the no of terms followed by
the square root.
where,
x = Observation under consideration
N = number of terms
mu = Mean
Measures of frequency distribution help us gain valuable insights into the distribution and
the characteristics of the dataset. Measures like,
Count
Frequency
Relative Frequency
Cumulative Frequency