In many areas of life, statistics are very important.
They help us get a better overview of certain situations. Without statistics, we wouldn’t understand those situations and problems, and we wouldn’t be able to act upon them, fix them or prevent them.
For example, for any business owner, knowing your clientele is very important. You know which demographics are going to want your product, thus you can make your product more prominent for them. Knowing the average income of your clientele is also very important.
You don’t want your customers to be unable to buy your product. This is why you need to know the per capita income of your customer base. Statistics like these are held to a high standard for a reason. And to help you calculate certain statistics easier, we have developed many calculators to relieve you of the hassle.
What are mean, median and mode? The mean, median and mode all represent some kind of average value. We use them in statistics, history, economics […]
What is the median? The median is the number that counts the parts into two equal sets of those that are (strictly) smaller and those […]