Tagged Questions

1answer
61 views

Interpretation of mean in this example

I recently presented a national test and the company in charge of preparing the test then does a standardization to provide the final scores for each person. These are the values they gave at the end ...
1answer
115 views

An analytical framework for considering the geometric mean

Is there an analytical method of looking at the geometric mean that will allow one to break it down to its various components? The focus of the question is more for financially related returns, but I ...
3answers
3k views

Difference between standard error and standard deviation

I'm a beginner in statistics. I'm struggling to understand the difference between the standard error and the standard deviation. How are they different and why do you need to measure standard error? ...
2answers
2k views

How should one interpret the comparison of means from different sample sizes?

Take the case of book ratings on a website. Book A is rated by 10,000 people with an average rating of 4.25 and the variance $\sigma = 0.5$. Similarly Book B is rated by 100 people and has a rating of ...
7answers
3k views

If mean is so sensitive, why use it in the first place?

It is a known fact that median is resistant to outliers. If that is the case, when and why would we use the mean in the first place? One thing I can think of perhaps is to understand the presence of ...
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