# Statistics

This category includes articles about statistics. Statistical methods are important to know about in order to be able to analyze financial markets and financial instruments.

Interval data is the second highest data level. Interval data means that we can rank the data and that it is possible to measure the difference between two values. ...

Data can be classified into different levels. The level of data determines the calculations that can be made to summarize, present and perform statistical tests on the collected data. ...

The mean absolute deviation is the average of the absolute deviations from the mean. With absolute deviation means that we ignore the plus and minus signs on the deviations, only the amounts are of in ...

The mean is the average value of a sample or a population. The mean is calculated as the sum of all values in a population or a sample divided by the number of observations in a population or a samp ...

The median is a measure of the central value, the middle value in a data set. The median is the middle observation when the values have been sorted from the lowest to the highest value, or vice versa. ...

The mode is a measure of the central value, the most common value in a data set. The mode is the value that occurs most frequently among all the observations. ...

Nominal data is the most primitive type of data. Nominal data can only be classified and summarized on the number of observations. ...

Ordinal data is a higher level of data compared to nominal data. Ordinal data can be ranked and one can therefore say that one category is better than another category. ...

A parameter in statistics is a value that is calculated directly from a population. A parameter refers to the fair value of a population. ...

A population is a group of individuals, objects or measurements that are of interest to a statistical study. ...