Statistics Terms For Data Analysis

Basic Statistics


The average of a set of values. Add all values in a set together and divide by the number of values in the set.


The value at the center of a set of values.

Odd-numbered Sets

In odd-numbered sets choose the value in the middle.

Even-numbered Sets

In even-numbered sets the mean of the two middle values is the Median.


The Mode is the most common value in a set. If the set has more than one Mode calculate the average of all Mode values.


The difference of the highest and lowest values in a set.


The lowest value in a set.


The highest value in a set.


The amount of values in a set.


The total of all values in a set.

Intermediate Statistics

Standard Deviation (Sigma)

A representation of how dispersed the values in a set of data are.

Standard Error

An estimate of the Standard Deviation as samples change within the same population. The Standard Error equals the Standard Deviation divided by the square root of the sample size.


How spread out from the Mean values are in a set. Higher Variance values indicate that values in a set are more dispersed.


How asymmetrical a data set is, rather than being normally distributed. A zero skew indicates the tails of a distribution are even at the Mean.


How sharp the peak of a distribution curve is.

  • 3: Normal distribution peak
  • Less than 3: Flatter peak
  • More than 3: Sharper peak

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