From the course: Statistics Foundations 1: The Basics
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The middle of your data set - Microsoft Excel Tutorial
From the course: Statistics Foundations 1: The Basics
The middle of your data set
- Every new set of data is filled with mystery. You have no idea what it contains. Somewhere inside the data is a story. Every time I get a data set, I wonder what kind of story will this tell? Will it told me something odd, something interesting, or something that's common knowledge? So, how do you begin to unravel the story? Well, when we read a book, we start at the beginning, but with a dataset, we start in the middle, literally. It makes sense. Wouldn't it be nice to know the middle or center of that data, especially if our data set has thousands or even millions of data points? Knowing the center of the data would seem to give us some balance and a really nice starting point. Let's take these two data points points, 2 and 4. Where's the middle? Halfway between them seems about right. So it's 3. Our two data points are equally far away or equidistant from 3. But how about when you have three data points: 1…
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