Essential Statistics Formulas
A comprehensive reference guide for statistical formulas with examples and explanations. Click to copy any formula to your clipboard.
Mean (Average)
Sum of all values divided by the number of values
Example:
For data: 2, 4, 6, 8, 10 Mean = (2+4+6+8+10)/5 = 30/5 = 6
When to use:
Use when data is normally distributed without outliers
Median
The middle value when data is sorted
Example:
Odd n: 1, 3, 5, 7, 9 → Median = 5 Even n: 1, 3, 5, 7 → Median = (3+5)/2 = 4
When to use:
Use when data has outliers or is skewed
Mode
The value that appears most often
Example:
For data: 1, 2, 2, 3, 3, 3, 4 Mode = 3 (appears 3 times)
When to use:
Use for categorical data or finding the most common value
Range
Difference between largest and smallest values
Example:
For data: 2, 5, 8, 12, 15 Range = 15 - 2 = 13
When to use:
Quick measure of spread, but sensitive to outliers
Population Variance
Average squared deviation from the mean
Example:
Data: 2, 4, 6 (μ = 4) σ² = [(2-4)² + (4-4)² + (6-4)²]/3 = [4+0+4]/3 = 2.67
When to use:
Use when you have the entire population
Sample Variance
Unbiased estimate of population variance
Example:
Data: 2, 4, 6 (x̄ = 4) s² = [(2-4)² + (4-4)² + (6-4)²]/(3-1) = 8/2 = 4
When to use:
Use when working with a sample
Population Standard Deviation
Square root of population variance
Example:
If σ² = 2.67, then σ = √2.67 = 1.63
When to use:
Measure of spread for entire population
Sample Standard Deviation
Square root of sample variance
Example:
If s² = 4, then s = √4 = 2
When to use:
Measure of spread for a sample
Coefficient of Variation
Relative measure of variability
Example:
If σ = 2 and μ = 10 CV = (2/10) × 100% = 20%
When to use:
Compare variability between datasets with different units
Interquartile Range
Range of the middle 50% of data
Example:
If Q₁ = 25 and Q₃ = 75 IQR = 75 - 25 = 50
When to use:
Robust measure of spread, not affected by outliers
Quick Reference Guide
Greek Letters in Statistics
Common Statistical Symbols
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