Mean
Median definition Like arithmetic average, geometric average, or mode, median is one of the measures of central tendency of a population, a sample, or a probability distribution. Median is the value which divides a data set in two halves – one with values lower than the median and the other with the higher values. Median … Read more
Arithmetic average basics Arithmetic average, or arithmetic mean, or just mean, is the very basic statistical measure. It provides quick and easy information about general level of values in a data set – it is one of the measures of central tendency. Why to calculate and use mean When you have a set of data, … Read more
Variance and standard deviation definition and calculation Variance and standard deviation are widely used measures of dispersion of data or, in finance and investing, measures of volatility of asset prices. Variance is defined and calculated as the average squared deviation from the mean. Standard deviation is calculated as the square root of variance or in … Read more
This article is a step-by-step guide to calculating variance and standard deviation. Definition of variance Variance is a measure of dispersion in a set of data. It measures how big the differences are between individual numbers in a set of numbers. Mathematically it is the average squared difference between each occurrence (each number) and the … Read more