Stats, Probability & Data Analysis

Practice Problems (pdf)

Mean (the average)

Median 

Middle value when items are arranged from least to greatest

Range

The difference between the max value and min value

Mode

Value that occurs the most in a set 

Standard Deviation

Shows how spread data points are. 

Low standard deviation:  data points are closer to the mean

High standard deviation:  data is spread over a wider range

Probability of an Event 

Joint or conditional probability 

Mutually exclusive probability

Fundamental Counting Principle

Pick 1 from each group, multiply the number of options in each group 

Permutation 

A combination of events occurring when order matters and the items cannot be repeated

Combination

A combination of events occurring when the order does NOT matter