Question

Formulas of statistics

Answer 1

Statistical formulas are used to calculate values related to statistical concepts or analyses. Here we will discuss common formulas and what they stand for.

These three are the main formulas in statistics.:

Population Mean

The term population mean, which is the average score of the population on a given variable, is represented by:
μ = ( Σ Xi ) / N
The symbol ‘μ’ represents the population mean. The symbol ‘Σ Xi’ represents the sum of all scores present in the population (say, in this case) X1 X2 X3and so on. The symbol ‘N’ represents the total number of individuals or cases in the population.

Population Standard Deviation

The population standard deviation is a measure of the spread (variability) of the scores on a given variable and is represented by:
σ = sqrt[ Σ ( Xi – μ )2 / N ]
The symbol ‘σ’ represents the population standard deviation. The term ‘sqrt’ used in this statistical formula denotes square root. The term ‘Σ ( Xi – μ )2’ used in the statistical formula represents the sum of the squared deviations of the scores from their population mean.

Population Variance

The population variance is the square of the population standard deviation and is represented by:
σ2 = Σ ( Xi – μ )2 / N
The symbol ‘σ2’ represents the population variance