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Basic Statistics: Overview - Smartacus Study Sheet

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Description: Explore basic statistics with this printable Smartacus Study Sheet. Review the types of graphs (line, bar, pie chart), how to read a table, and basic data set values -- median, mode, mean, and range.
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Contents

  1. Business Math Terms
  2. Finding the...
  3. Business Math Homework Help: Related Links

Business Math Terms

  • Data Set a collection of related values.
  • The Mean is the mathematical average of your data set.
  • Median is a basic statistic that describes a different type of average. It represents the "middle" of a data set, with half its numbers higher than the median and half lower.
  • Mode represents the value or values that occur most often in a data set. (If no value occurs more than once, the data set is said to have no mode.)
  • Range describes the degree of variety in your data set. A large range indicates a more varied data set, while a small range indicates the data is very similar.

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Finding the...

Finding the Mean of a Data Set :

 Mean = (sum of values)/(number of values)

Finding the Median of a Data Set: 

 Median = (sum of middle values)/2

Finding the Mode of a Data Set: 

 Mode = Value that appears most often in the data set

    If no value appears more than once, the data set has no mode

Finding the Range of a Data Set: 

 Range = largest value - smallest value

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Business Math Homework Help: Related Links

How to Read a Bar Graph: 

    A graph using the visual representation of parallel bars (vertical or horizontal) to present the relationship between two groups of related data - Frequency vs. Grouped.

How to Read a Line Graph: 

    A graph using the visual representation of points connected by lines to present the relationship and/or trend between two groups of related data - Frequency vs. Grouped.

How to Read a Pie Chart:

    Pie Charts summarize data, expressing it as a percentile (that is, percentage of a total).

How to Read a Table: 

    A Table displays a summary of categorical and/or percentile data.

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