DATA ANALYSIS DEFINITIONS, TERMS, AND FORMULAS.docx

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18 Terms

1

Mean

The arithmetic average of a dataset, calculated by summing the values and dividing by the number of values.

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2

Median

The middle value of a dataset when arranged in ascending order; resistant to outliers.

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3

Mode

The value that appears most frequently in a dataset.

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4

Range

The difference between the maximum and minimum values in a dataset.

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5

Variance

A measure of the average squared deviations of each value from the mean, indicating spread.

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6

Standard Deviation

The square root of variance, measuring the average distance of each data point from the mean.

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7

Interquartile Range (IQR)

The difference between the third quartile (Q3) and the first quartile (Q1), representing the spread of the middle 50% of data.

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8

Skewness

A measure of the asymmetry of the probability distribution of a real-valued random variable.

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9

Kurtosis

A measure of the heaviness of the tails of a distribution, indicating the presence of outliers.

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10

Pearson's Correlation Coefficient (r)

A measure of the strength and direction of the linear relationship between two continuous variables.

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11

Spearman's Rank Correlation Coefficient (ρ)

A measure of the strength and direction of the monotonic relationship between two variables.

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12

Kendall's Tau (τ)

A measure of the strength and direction of the relationship between two ordinal variables.

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13

Cronbach's Alpha

A measure of the internal consistency or reliability of a set of items.

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14

Composite Reliability

An overall measure of reliability for a construct in a structural equation model.

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15

Convergent Validity

The degree to which two measures of constructs that should be related are actually related.

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16

Discriminant Validity

The degree to which a construct is truly distinct from other constructs.

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17

R-square

A measure indicating the proportion of variance in the dependent variable explained by the independent variables.

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18

Predictive Relevance (Q²)

An assessment of the model's ability to predict future outcomes.

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