Statistics

1 In some questions, where it is asked to find the mean of people (number of

people being up to 3). Combination of the people is given in such a way that
their sum is equal to 2 (times) sum of the individual divided by 2 which is
actually sum of individual value, then apply short cut by directly dividing the
sum of the value by 3.
e.g.
Arithmetic mean of A and B is $3800
Arithmetic mean of B and C is $4800
Arithmetic mean of A and C is $5800
What is arithmetic mean of A, B and C????
Then,
3800 + 4800 + 5800
3
= 4800

2 Sets with the same mean or median may have very different ranges. For
instance, while the median of both the sets {−11, −6, −1, 4, 9} and {−3, −2,
−1, 0, 1} is the same (that is, −1), the numbers in the first set are much more
spread out. The range of the first set is 9 (−11) =20, While the range of the
second set is 1 − (−3) = 4.

3 Formula for the calculation of median (Q2), Q1 and Q3

If the number of items in a given set is even then,
+2
=
4
 = ℎ +1
2 2
3 +2
=
4
Note: Q4 is the last item of any given set

If the number of item in the given set is odd then,

+1
=
4
+1
=
2
+1
=3∗
4

4 Interquartile range = Q3 – Q1

5 Farther the data points are away from the mean, the greater the standard
deviation will be.

6 Relative frequency is value expressed in terms of percentage.

E.g.
If total numbers of customer = 400
Shop A receives = 40 customers
Shop B receives = 60 customers
Relative frequency of A and B both = 100/400 = 0.25 *100 % = 25%
7 Do not get confused with percentile and percentage?
Percentile is the measure of by what that percentage quantity surpasses other
precedent quantities.
E.g.
If a student gets 95 percentile means he has left behind 95 percentage of
student behind him.

8 If a given set of data is multiplied by any constant number (positive or

negative), the new Standard Deviation will have larger value than previous.
However, adding/subtracting a constant to/from every number on a list, that
doesn’t change the standard deviation at all.
E.g.
Consider a set S1 = {1, 2, 3}
Mean of above set = 2
So every number is 1 unit apart from mean
Multiplying each data by 3, then,
S2 = {3, 6, 9}
mean = 6
Now every value of new data set is 3 units apart from mean. So this new set
will have greater value of Standard Deviation. This will give same result even
if multiplied by “- 3”.

9 In normal distribution 1 Standard Deviation above and below represents 68%

of the number of data but reverse is not true, i.e. 68% will not represent 1 SD
below and above.
10 For evenly distributed set mean and medians are equal