Statistic

Definition

A numerical measurement used to describe characteristics or properties of groups or populations based on data collected from samples.

Related terms

Mean (Average): A statistic calculated by adding up all values in a dataset and dividing by the total number of values.

Standard Deviation: A statistic that measures how spread out the values in a dataset are around the mean.

Correlation Coefficient: A statistic that measures the strength and direction of the relationship between two variables.