Front
What is the Mean?
Back
The arithmetic average
Sum of all values divided by the number of observations; used for symmetric data.
Public Deck
Statistics Fundamentals - 45 Key Concepts
Master statistics with 45 flashcards covering descriptive stats, probability, distributions, and hypothesis testing.
AnyFlashcards45 cards
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Front
What is the Median?
Back
The middle value in a sorted dataset
The point where 50% of data is above and 50% is below; resistant to outliers.
Front
What is the Mode?
Back
The most frequently occurring value
The value that appears most often; useful for categorical data.
Front
How do you calculate the Range?
Back
Maximum value minus Minimum value
A simple measure of the total spread of the data.
Front
What is Variance?
Back
The average of the squared deviations from the mean
$σ^2 = ∑(x - μ)^2 / N$; measures the spread of data points.
Front
What is Standard Deviation?
Back
The square root of the variance
$σ = √Variance$; represents the average distance of data points from the mean.
Front
How do you calculate the Interquartile Range (IQR)?
Back
Q3 - Q1
Measures the spread of the middle 50% of the data; used to identify outliers.
Front
What does positive (right) skewness indicate?
Back
The tail on the right side is longer
The mean is typically greater than the median.
Front
What is Kurtosis?
Back
A measure of the 'tailedness' of a distribution
Describes how much of the data is in the tails versus the peak.
Front
What is the standard rule for identifying an Outlier?
Back
Values > Q3 + 1.5(IQR) or < Q1 - 1.5(IQR)
Used to identify observations that fall significantly outside the main data body.
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