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Statistics Basics

Essential statistical concepts including mean, median, probability

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Flashcards (6)

Card 1

What is the difference between mean, median, and mode?

Mean is the average. Median is the middle value when ordered. Mode is the most frequent value.
Card 2

What is standard deviation?

A measure of how spread out numbers are from the mean. Low SD means data is clustered; high SD means data is spread out.
Card 3

What is probability?

The likelihood of an event occurring, expressed as a number between 0 and 1 (or 0% to 100%). P(event) = favorable outcomes / total outcomes.
Card 4

What is correlation vs causation?

Correlation means variables are related. Causation means one variable causes the other. Correlation does NOT imply causation.
Card 5

What is a normal distribution?

A bell-shaped curve where most data clusters around the mean. About 68% within 1 SD, 95% within 2 SD, 99.7% within 3 SD.
Card 6

What is the difference between population and sample?

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