Tuesday, 6 November 2018

General Statistics Terms in Analytics


Mean - Average of all the values
Mode - Most occurred value
Median - When arranged from ascending to descending or vice versa then mid value
Standard Deviation- Square root of the average of squared deviations of the variable from their mean
Variance- Average of squared differences from mean value
Bias- It refers to the tendency of a measurement process to over or under estimate the value of a population parameter
Kurtosis-The extent to which the distribution is more or less outlier prone than the normal distribution.


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