What You Have to Know About Central Tendency and Dispersion Measurements

If you work with data in your day-to-day, of course, you have to read this.

Figure 1. Range, Variance, Mean, Standard Deviation. Image by the author.

How many professions are there in the world today where related to data? There is no certain number. However, what is certain is the remarkable growth in the demand and diversity of professionals working around data. Data Analyst, Data Scientist, Data Engineer, Business Intelligence Analyst, Machine Learning Engineer, etc; to name a few.

When working with data, it is certain that at some point you will have to interpret it using some fundamental statistical methods such as measures of central tendency and dispersion. Therefore, in this blog, we are going to see in a practical way what, for what, and how to calculate these measurements.

This blog will cover:

• Measures of Central Tendency
  - Mean
  - Median
  - Mode
• Measures of Dispersion
  - Range
  - Variance
  - Standard Deviation

Let’s get started!

Measures of Central Tendency

Measures of central tendency provide a representative value that summarizes the central or typical value of a dataset. They are essential for understanding the average or central value…