What is Standard Deviation? Standard Deviation (SD) is the statistical measure of how spread out the values of a data set are from the mean or average number. In short, it measures the variation of the values from the mean. The closer the values are to the mean, the lesser they are spread out, which also yields to a small …
Probability: Figuring Out the Odds
Let’s learn about basic probability. What is Probability? Probability is the likelihood of something to happen. It ranges between zero (0) or impossible to one (1) or certain and will never be less than 0 or more than 1. Probability can be expressed in fraction, decimal, or percentage. For example, here are some probabilities: A pig talking is 0 or …
Mean Median Mode: Measures for Data Sets
Let’s learn how to determine the mean, median, and mode. Once in a while, you probably stare at a group of numbers – grocery prices, scores in a test, monthly sales, ages of your family members – and think how to make sense of them. These groups of numbers are also called data sets. A data set is a collection …