Statistics Flashcards
1
Q
What is the Interquartile Range?
A
The range between quartile 1 and quartile 3.
2
Q
How to determine if point is an outlier?
A
Outlier if point is Q3 + 1.5*IQR
3
Q
What is bessels correction and why is it used?
A
It is dividing by n-1 instead of n for standard deviation calculations because when we take samples, we are sampling mostly from the middle of the distribution (most points fall in this range) and undersampling from the tails so we should correct for this bias against minimized variance.
