Covariance
measure the tendency of 2 sets of data to move together
Trend Line
a line indicating the general course or tendency of a graph
Coefficient of Variation
a measure of relative dispersion (St. Dev.)/(mean)
Confidence Interval
a range of values so defined that there is a specified probability that the value of a parameter lies with in it
Histogram
tells us how many observations were within a certain range on a table or bar chart
What do Min. & Max. do for the reader?
they provide an understanding of the range of values
Scatter Plots
are useful when determining if there is a correlation between 2 sets of values
Correlation Coefficient
-- 1? -1? 0?
used to determine whether 2 ranges of data move together
1= the 2 series move together
-1= the 2 series move in opposite directions
0= the 2 series do not move together at all
Standard Deviation
calculates how far from the average does the group as a whole deviate