When we have a dataset, we often will want to describe the dataset to others without having to show them all of the individual values which make up the dataset. This is especially true for very large datasets.
Measures of location/central tendency
These values tell us where the data is centered around/located at. They include:
- Mean
- Median
- Mode
Measures of spread
These values tell us how far the data is spread out. They are important because the measures of location are often insufficient in describing how far apart the data points are. The measures of spread are:
- Range
- Variance
- Standard deviation