Category: Probability & Statistics

Geometric mean is less well-known than arithmetic mean (average).  However, geometric mean still has its uses, so it is helpful to know what it is, how to calculate it, and when to use...

Percentages tell us the “how much per hundred” when we have a fraction (part divided by whole).  The concept of percentages is helpful in numerous situations in everyday life. So, what...

Standard deviation is used often in statistics to help us describe the spread of a data set (dispersion about the mean).  If we cannot poll the entire population, we can use a sample to estimate the...

Mean and standard deviation are often calculated and used to describe a data set, possibly to compare it to another data set.  However, it helps to know the key differences between these two...

Weighted average is a concept that is useful in probability and statistics, as well as in other applications (such as giving one numerical ranking as a weighted average of several different...

Mean tells us the average of a data set, which can help us to understand the data and make predictions about the future.  However, there are lots of other uses for the mean of a data set. So,...