Measures

Measures

1. Central Tendency

   • Is a central or typical value for a probability distribution. It may also be called a center or location of the distribution.
     • Examples
       • Common examples of measures of statistical dispersion are the variance, standard deviation, and interquartile range.
     • Utility
       • Can be calculated for either a finite set of values or for a theoretical distribution, such as the normal distribution.
     • Formulas

2. Measures of dispersion

   • Examples
     • The most common measures of central tendency are the arithmetic mean, the median and the mode.
   • Utility
     • A central tendency can be calculated for either a finite set of values or for a theoretical distribution, such as the normal distribution.
   • is the extent to which a distribution is stretched or squeezed.

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