How do you calculate measures of dispersion?

📊📈🔍 Hey guys, let’s talk about measures of dispersion! 📊📈🔍 There are several measures of dispersion, including range, interquartile range (IQR), variance, standard deviation, and mean absolute deviation (MAD). Here’s how to calculate each one: Range: Subtract the smallest value from the largest value. IQR: Subtract the first quartile from the third quartile. Variance: Calculate […]

What is the interquartile range?

📊📈🔍 Hey guys, let’s talk about the interquartile range! 📊📈🔍 The interquartile range (IQR) is a measure of variability in a distribution. It’s the range between the first quartile (25th percentile) and the third quartile (75th percentile) of the data. The interquartile range is a great way to describe the variability of points near the […]

What is the range of a distribution?

📊📈🔍 Hey everyone, welcome to today’s tutorial on understanding the range of a distribution! 📊📈🔍 The range of a distribution is simply the difference between the highest and lowest values in the distribution. It’s like the range of a basketball player’s shots – the difference between their longest and shortest shots. The range tells us […]

What are measures of variation?

📊📈🔍 Hey guys, let’s talk about measures of variation in distributions! 📊📈🔍 Measures of variation tell us how spread out the values are around the central value. If the values are tightly clustered around the center, then there is low variation. But if the values are spread out over a wider range, then there is […]