Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data.
This key competency area deals with an understanding and ability to work with measures of central tendency, variance and standard deviation, and bivariate analysis.
- Measures of Central tendency - A measure of central tendency is a single value that attempts to describe a set of data by identifying the central position within that set of data.
- Mean - The mean is the average or the most common value in a collection of numbers.
- Median - In statistics and probability theory, the median is the value separating the higher half from the lower half of a data sample, a population, or a probability distribution. For a data set, it may be thought of as "the middle" value.
- Mode - The mode is the value that appears most often in a set of data values.
- IQR - In descriptive statistics, the interquartile range, also called the mid-spread, middle 50%, or H‑spread, is a measure of statistical dispersion, being equal to the difference between 75th and 25th percentiles, or between upper and lower quartiles, IQR = Q₃ − Q₁.
- Range - The range of a set of data is the difference between the largest and smallest values.
- Variance - Variance is the expectation of the squared deviation of a random variable from its mean.
- Standard deviation - The standard deviation is a measure of the amount of variation or dispersion of a set of values. A low standard deviation indicates that the values tend to be close to the mean of the set, while a high standard deviation indicates that the values are spread out over a wider range.
- Bivariate Analysis - Bivariate analysis is a kind of statistical analysis when two variables are observed against each other. Ability to compute the Correlation, Covariance, Least Square method, Regression analysis, Goodness of fit.