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Solution - Statistics

Sum: 0.555
0.555
Arithmetic mean: x̄=0.185
x̄=0.185
Median: 0.05
0.05
Range: 0.495
0.495
Variance: s2=0.074
s^2=0.074
Standard deviation: s=0.272
s=0.272

Other Ways to Solve

Statistics

Step-by-step explanation

1. Find the sum

Add all the numbers:

0.005+0.05+0.5=111200

The sum equals 111200

2. Find the mean

Divide the sum by the number of terms:

Sum
111200
Number of terms
3

x̄=37200=0.185

The mean equals 0.185

3. Find the median

Arrange the numbers in ascending order:
0.005,0.05,0.5

Count the number of terms:
There are (3) terms

Because there is an odd number of terms, the middle term is the median:
0.005,0.05,0.5

The median equals 0.05

4. Find the range

To find the range, subtract the lowest value from the highest value.

The highest value equals 0.5
The lowest value equals 0.005

0.50.005=0.495

The range equals 0.495

5. Find the variance

To find the sample variance, find the difference between each term and the mean, square the results, add together all of the squared results, and divide the sum by the number of terms minus 1.

The mean equals 0.185

To get the squared differences, subtract the mean from each term and square the result:

(0.0050.185)2=0.032

(0.050.185)2=0.018

(0.50.185)2=0.099

To get the sample variance, add together the squared differences and divide their sum by the number of terms minus 1

Sum:
0.032+0.018+0.099=0.149
Number of terms:
3
Number of terms minus 1:
2

Variance:
0.1492=0.074

The sample variance (s2) equals 0.074

6. Find the standard deviation

The standard deviation of the sample equals the square root of the sample variance. This is why the variance is usually represented by a squared variable.

Variance: s2=0.074

Find the square root:
s=(0.074)=0.272

The standard deviation (s) equals 0.272

Why learn this

The science of statistics deals with the collection, analysis, interpretation, and presentation of data, particularly in the contexts of uncertainty and variation. Understanding even the most basic of concepts in statistics can help us better process and understand information that we encounter in our everyday lives! Additionally, more data is collected now, in the 21st century, than ever before in all of human history. As computers have become more powerful, they have made it easier to analyze and interpret ever-larger datasets. Because of this, statistical analysis is becoming increasingly important in many fields, allowing governments and companies to fully understand and react to data.

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