Section+9

Range - The difference between the highest value and the lowest value in a set of data.

Interquartile Range (IQR) - A measure of statistical spread of data; it is equal to the difference between the third and first quartiles.

Lower Quartile - The point at which 75% of all returns in a group are lower and 25% are greater.

Upper Quartile - The point at which 25% of all returns in a group are greater and 75% are lower. Mean Absolute Deviation (MAD) - mean of the positive deviations. |mean-x| and then the mean of all of those numbers

Standard Deviation - the average amount the data values vary from the mean

Empirical Rule

z-score - The z-score indicates how many standard deviations above or below the mean a particular value falls. It is calculated through the process of standardization.

Standardization - Standardization is using the standard deviation to make comparisons of individual values from different distributions. Through this process, you can calculate a z-score by subtracting the mean from the value of interest and then dividing by the standard deviation. z=(observation - mean)/standard deviation

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