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7 Questions About Basic Statistics

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7 questions about basic statistics
(must be answered in paragraph form)
1.- What is the difference between mean, median and mode?
Mean, median, mode: they are measures of central tendency, if they are of very similar values
indicate that your data are symmetrical. Mean is the sum of all values divided by the number of
values; Median is the value of the variable that has the same amount of values smaller than this and
values greater than this one (it is the "middle" value in the list of numbers); Mode is the variable
whose value is the most recurring. The mean is very influenced by extreme values, which does not
happen with the median. The median is useful for variables such as age, incomes and housing. Mode
is useful when the most common material, feature or value of a data set is required.
2.- What does the Standard Deviation do?
The standard deviation measures the dispersion of a data set. While the data are more dispersed,
the deviation will be greater and if the standard deviation is lower means that the data set has all
points near to the mean. In other words, the standard deviation is the average distance of the points
from the mean. Standard deviation, as well as mean, is a very sensitive index to extreme points.
3.- What is the Correlation Coefficients?
Basically the correlation coefficient is a measure that indicates how closely associated the
dependent and independent variables are in a linear regression model. The r values will be between
-1 and 1. If r = 0 the variables are said to be uncorrelated: no sense of covariation can be established;
if r > 0 there is positive correlation: the two variables are correlated in the direct sense. High values
of one correspond to high values of the other and equally to low values; if r <0 there is negative
correlation: the two variables are correlated in the opposite direction. A high values of one of them
usually correspond low value of the other and vice versa.

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7 questions about basic statistics (must be answered in paragraph form) 1.- What is the difference between mean, median and mode? Mean, median, mode: they are measures of central tendency, if they are of very similar values indicate that your data are symmetrical. Mean is the sum of all values divided by the number of values; Median is the value of the variable that has the same amount of values smaller than this and values greater than this one (it is the "middle" value in the list of numbers); Mode is the variable whose value is the most recurring. The mean is very influenced by extreme val ...
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