10 Must-Know Statistics & Probability Concepts
Statistics and probability are the twin pillars of decision-making, guiding experts worldwide to decipher complex data trends. Whether you’re a seasoned professional or a beginner, we’ve curated a list of plug-and-play templates to help you tackle these concepts effortlessly.
Mean, Median, and Mode
Mean, median, and mode are measures of central tendency—the latter indicating where the data is centered.
Variance and Standard Deviation
These fundamental statistical concepts gauge the degree of variability within a dataset.
Skewness
Skewness measures the asymmetry of a given distribution.
Kurtosis
Kurtosis determines the degree of tailedness—the weight of the tails relative to the rest of the distribution.
Coefficient of Variation
The coefficient of variation (CV) estimates the amount of dispersion around the mean in a dataset.
Standard Normal Distribution
A special case of the normal distribution with mean μ = 0 and standard deviation σ = 1. It is bell-shaped and absolutely symmetrical.
Confidence Interval
A confidence interval is the range within which you expect the population parameter to be.
Quantitative Methods Cheat Sheet
Discover the basics of mathematics, statistics, and the probability that shape decision-making in finance.
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