BUSSINESS ANALYTICS

Assignment No 5

a. Mean
The mean (average) of a data set is found by adding all numbers in the data set and then
dividing by the number of values in the set.

b. Mode
The mode is the value that appears most often in a set of data values. If X is a discrete
random variable, the mode is the value x at which the probability mass function takes its
maximum value

c. Median
The median is the middle number in a sorted, ascending or descending, list of numbers and
can be more descriptive of that data set than the average
 
d. Standard Deviation
The standard deviation is a statistic that measures the dispersion of a dataset relative to its
mean and is calculated as the square root of the variance.

e. Variance
In probability theory and statistics, variance is the expectation of the squared deviation of a
random variable from its population mean or sample mean. Variance is a measure of
dispersion.

f. Range
In statistics, the range of a set of data is the difference between the largest and smallest
values. Difference here is specific, the range of a set of data is the result of subtracting the
sample maximum and minimum.

g. Skewness
In probability theory and statistics, skewness is a measure of the asymmetry of the
probability distribution of a real-valued random variable about its mean. The skewness
value can be positive, zero, negative, or undefined.