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The term population mean represents the average score of the population on a given variable and symbolizes: = ( Xi ) / N. The symbol stands for the population mean. Meanwhile, Xi indicates the sum of all scores in the population (such as X1, X2, X3, and so on).
Statistics has been defined as the mathematical science of making decisions and drawing conclusions from data in situations of uncertainty. It includes Page 6 designing of experiments, collection, organization, summarization, analysis and interpretation of numerical data.
In applied mathematics, statistics is a branch that deals with the collection, organization and interpretation of data. It is similar to the study of the probability of events occurring based on the collection of data or the known quantities of data.
Circle, Parabola and Permutation and Combination are tough chapters of Class 11 Maths. Sequence and Series is another tough topic that needs more attention and preparation. Additionally, you must also study Coordinate Geometry and Integral Calculus for JEE Mains 2022.
Economics usually means establishing a general or complex theory using various economic entities. However, providing evidence is essential to developing economic theories and models. Statistics does the job of providing numerical evidence to these statements/theories.
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What is the Statistics Formula? Mean x̄ = xi / N. Median = (N+1)th / 2 term; when N is odd. [ Nth / 2 term + ( N / 2 + 1)th term ] / 2 ; when N is even. Mode = The value in the data set that occurs most frequently. Variance = (xi x̄)2 / N.

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