The interquartile range of an observation variable is the difference of its upper and lower quartiles. It is a measure of how far apart the middle portion of data spreads in value. When a data set has outliers or extreme…
Category: Statistics
Common Statistical Terminology with Applications
The lack of communication between statisticians and the managers is the major roadblock for using statistics. Below are some statistical terminology to ease a precise communication Population: A population is any entire collection of people, animals, plants or things on which…
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