Understanding Descriptive Statistics
Descriptive statistics is the process of using and analyzing data sets to highlight key features, summarize details, and present data in a meaningful format. It's crucial for making informed decisions based on data. Here are some concepts commonly associated with descriptive statistics:
- Mean: The average value of a data set.
- Median: The middle value that separates the higher half from the lower half of a data set.
- Mode: The value that appears most frequently in a data set.
- Range: The difference between the highest and lowest values.
- Variance and Standard Deviation: Measures of how much values in a data set differ from the mean.
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