Types of Measure
Central Tendency tells you about the centers of the data. Useful measures include the mean (Weighted Mean, Harmonic Mean, Geometrical Mean), median, and mode (Mode, Multimode).
  • Harmonic Mean is the reciprocal of the arithmetic mean of the reciprocals.
    nin(1xi)\frac{n}{\sum_i^n(\frac{1}{x{i}})}
    , where
    i=1,2,...ni=1,2,...n
    and
    nn
    is the number of items in the dataset
    xx
    .
  • Geometric Mean is the n-th root of the product of all
    nn
    elements
    xix_i
    in a dataset
    xx
    .
    inxin\sqrt[n]{\prod_i^n x_{i}}
    , where
    i=1,2,...ni=1,2,...n
    and
    nn
    is the number of items in the dataset
    xx
    .
Variability tells you about the spread of the data. Useful measures include variance, Standard deviation, Skewness, Percentile, and Range.
Correlation or Joint Variability tells you about the relation between a pair of variables in a dataset. Useful measures include covariance and the correlation coefficient.
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