What is it: Basic Statistics is used to determine the following statistical properties:
Measures of Central Tendency - Describes the center point of our data set with a single value.
Measures of Dispersion - Describes how far individual data values have strayed from the mean.
Higher Moments - Is a measure of the "peakedness" of the probability distribution of a real-valued random variable.
Percentile and Percentile Rank Calculations - Measures of the relative position of the data values from dividing the data set into 100 equal segment.
Quartiles - Measures the relative position of the data values to describe something of interest.
Chebyshev's Theorem Observation - The proportion of values from a data set that will fall within k standard deviations of the mean will be at least 1 - 1/k2, where k is any number greater than 1.
Other Statistics (Sum, Size, Maximum, Minimum)
Why use it: Basic Statistics is a set of concepts, rules, and procedures that help us to organize numerical information in the form of tables, graphs, and charts to make well informed decisions.
How to use it: Simply insert the data into the grey columns of the template and series of 7 statistical tests will than be completed for immediate analysis.
Contents of template package: 1 * Basic Statistics Template with completed example (Microsoft Excel). The Template includes the following tests: