Understanding Formulas for Common Statistics

After data has been collected, the first step in analyzing it is to crunch out some descriptive statistics to get a feeling for the data. For example:




  • Where is the center of the data located?




  • How spread out is the data?




  • How correlated are the data from two variables?




The most common descriptive statistics are in the following table, along with their formulas and a short description of what each one measures.


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Source:http://www.dummies.com/how-to/content/understanding-formulas-for-common-statistics.html

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