Statistics

• Statistics - The mathematical study of the likelihood and probability of events occurring based on known information and inferred by taking a limited number of samples. Statistics plays an extremely important role in many aspects of economics and science, allowing educated guesses to be made with a minimum of expensive or difficult-to-obtain data.
• Frequency 每 is the number of times an event occurs
• Histogram 每 best used to plot data that is continuous
• Continuous - A statistical distribution for which the variables may take on a continuous range of values
• Discrete - A statistical distribution whose variables can take on only discrete values
• Frequency table 每 Used to show the distribution of the data
• Mode 每 The number that appears the most often in a set of data. It is possible for data to have more then one mode, and then it is known as bimodal, trimodal and ect.
• Mean 每 Numeric data which is added and the result is divided by the number of items of data that is presented. This is the measure commonly and incorrectly called average
• Median 每 It can be found by arranging all the data in order of size and selecting the middle item.
• Range 每 It can be found by subtracting the lowest value of data from the highest value of the data, giving the measure of spread of the data.
• Inter-quartile Range 每 The difference between the two quartiles
• Outliers 每 numbers in data that seem very unusual and few in number
• Standard Deviation - The standard deviation of a probability distribution is defined as the square root of the variance
• Quartile - One of the four divisions of observations which have been grouped into four equal-sized sets based on their statistical rank. The quartile including the top statistically ranked members is called the first quartile and denoted Q1. The other quartiles are similarly denoted Q2, Q3, and Q4. For N data points with N of the form 4N+5 (for n = 0, 1, ...), the hinges are identical to the first and third quartiles.

Equations

Here is some extra information and sample of a Cummulitive Frequency Table and its corresponding graph

This is a sample Frequency Table