Tag: median

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...

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...

Percentile is used in statistics to give us an idea of where a data value lies in relation to a group of data points.  It is also useful for ranking purposes, but it is important to know how to...

The mode of a data set gives you some indication of where the values are most clustered together.  However, this also raises questions of what else mode tells us, and how it compares to other...

Box plots are used often in statistics to give a visual summary of a data set.  However, this still raises the question of what exactly they reveal, and what we can calculate from what we are...

Mean and median are used often in statistics to help summarize the values in a data set.  However, there are questions about how they are related, how they differ, and what they mean. So,...