Basic Statistics Formula

About Basic Statistics Formula

Statistics is a discipline of mathematics concerned with numbers and data analysis. Statistics is known as the study of data collection, analysis, interpretation, presentation, and organization.

In a nutshell, statistics is concerned with gathering, classifying, organising, and presenting numerical data in a clear and understandable manner. Statistics analyses the data and forecasts possible outcomes. There are a number of basic statistics formulas that can assist us in dealing with facts, observations, and information that are merely numerical data. We can identify numerous measures of central tendency and the deviation of data values from the centre using statistics.

What do you mean by Basic Statistics Formulas?

Mean (x? ): x? = (∑x)/n

Median (M): If n is odd, then M = {(n+1)/2}th term and If n is even, then M = [ (n/2)th term + {(n/2)+1}th term ]/2

Mode: The value which occurs most frequently

Variance (σ2) = ∑(x-x¯)2n

Standard Deviation (S) = σ = ∑(x-x¯)2n

Here, x is Observations given,x? is Mean, n is the total number of observations

Example: Age of students = {14, 15, 16, 15, 17, 15, 18}, Find the mode.

Sol: Since there is only one value repeating itself, it is a uni-modal list.

Mode = {15}

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Basic Statistics Formula

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