Statistics helps in collecting, classifying and interpreting data that conveys information.
Simple statistical measures to perform the fundamental analysis are: the mean (what is the data average?), the median (data point that splits the total data into 2 equal parts ), the mode (the variable value with highest frequency), the variance (the spread of the data points from the mean), skewness (data symmetry), kurtosis (height of the data), correlation (variable inter-relationship of data). |