Statistics
Introduction
Statistics is a branch of mathematics which gives us the tools to deal with large quantities of data and derive meaningful conclusions about the data. To do this, statistics uses some numbers or measures that describe the general features contained in the data. In other words, using statistics, we can summarize large quantities of data by a few descriptive measures.
Two descriptive measures are often used to summarize data sets. These are
1. Measure of central tendency
2. Measure of dispersion
The central tendency measure indicates the average value of data, where “average” is a generic term used to indicate a representative value that describes the general center of the data.
The dispersion measure characterizes the extent to which data items differ from the central tendency value.
In other words, dispersion measures and quantifies the variation in data. The larger this number, the more the variation amongst the data items.
Mean, median, and mode are some examples of central tendency measures.
Standard deviation, variance, and coefficient of variation are examples of dispersion measures.
Now we will study each of these six statistical measures in greater detail.
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