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Statistics (Measures of Central Tendencies (Median (50th percentile,…
Statistics
Measures of Central Tendencies
Mean
Average
Sensitive to Outliers
Least squares solution
Penalizes for big misses
Median
50th percentile
Average if between two numbers
No sensitive to outliers
Least absolute deviation solution
Penalizes less than least squares for a big mess
Mode
Most frequently occurring value
Not ideal for many digits
Could have multiple modes
Multimodal
Bimodal
Spread
Distribution
Skew-asymmetry
Positively skewed
Mode at peak
Mean pulled to right
Mean to the right of median
Negatively skewed
Mode at peak
Mean pulled to the left
Mean to the left of median
Symmetrical Distribution
Mean, Media and Mode Same
Tails
Ends of distribution
Relatively few data points
Highest and lowest values
Histograms
Sampling