What are the 5 basic statistics?
5 Basic Statistics Explained
In statistics, there are several fundamental measures that help describe and summarize data. The five basic statistics most commonly referred to are:
- Mean: The average of a set of numbers, calculated by adding all the values and dividing by the total number of values.
- Median: The middle value in a sorted list of numbers. If there is an even number of values, the median is the average of the two middle numbers.
- Mode: The value that appears most frequently in a data set. A set may have one mode, more than one mode, or none if all values are unique.
- Range: The difference between the largest and smallest values in a data set. It gives a sense of how spread out the values are.
- Standard Deviation: A measure of how spread out the numbers in a data set are around the mean. A low standard deviation means the values are close to the mean, while a high standard deviation indicates more spread.
Together, these statistics provide a comprehensive snapshot of a data set's central tendency, frequency, and variability.