Problem Solving Formulas
Sum of values
• Mean (Average) = .
Total number of values
• Mode - The most frequently occurring value.
• Range - The difference between the highest and lowest values in a dataset. max-min
• Median - The middle value in a sorted dataset, which divides the data into two equal halves.
• Low standard deviation: Data points are close to the mean.
• High standard deviation: Data is spread over a wide range.
• Margin of Error: How It Changes
Decreases When:
• Bigger Sample Size: More data reduces uncertainty.
• Variability Decreases: Less spread in the data narrows the error range.
Increases When:
• Smaller Sample Size: More data increases uncertainty.
• Variability Increases: More spread in the data enlarges the margin.
desired outcomes
• Probability = .
total possible outcomes
new−old
• Percent Change= · 100%.
old
• Box Plot - a way of summarizing data by showing:
• The minimum value (left whisker).
• The lower quartile (Q1 ), which is the 25% point.
• The median (50% point).
• The upper quartile (Q3 ), which is the 75% point.
• The maximum value (right whisker).
• The Interquartile Range (IQR) which is Q3 − Q1 .
min max
Q1 Median Q3
IQR = Q3 − Q1
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