Mean or Median

Mean and median are similar concepts that help identify the average value of a sample and provide insight into the overall data.

Are there differences between these two measures?

Consider an example that compares the mean and median salaries of IT specialists, with a focus on the last individual who has the highest salary.

Conclusion

The mean value is more susceptible to extremely small or high values than the median. Therefore, when dealing with the values in a sequence that aren't similar, it is better to use the median. In our example, the mean value is twice as high as the median, making the median a more accurate representation.

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Sezione 1. Capitolo 7

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Contenuti del Corso

Learning Statistics with Python

1. Basic Concepts

Sample vs Population Types of Statistics Types of Data Mean Value Median Value Median Value of the Even Number of Values Mean or Median Mode Value Descriptive Statistics Quiz

2. Mean, Median and Mode with Python

Examine the Dataset Calculating Mean and Median Values with Python Statistics with pandas Calculate the Mean and Median Salary

3. Variance and Standard Deviation

Population Variance Sample Variance Calculate Variance with Python Standard Deviation Standard Deviation with Python Calculating Variance and Standard Deviation

4. Covariance vs Correlation

Covariance Correlation Covariance and Correlation Quiz Calculate Covariance and Correlation

5. Confidence Interval

6. Statistical Testing

What is t-test Hypotheses t-test Mathematically One-Tailed And Two-Tailed Test t-test Assumptions Performing a t-test in Python Conduct a t-test Paired t-test