Explainer · Sport30 wins in 50 games is a win rate of 60 %. The 95 % interval around it runs from 46.4 % to 73.6 % — twenty-seven points wide, and wide enough to contain a losing record.
Aisha Karim · 3 min read
Explainer · BusinessFive incomes of 10,000 to 90,000 give a Gini of 0.38. Divide every one of them by ten and the answer is still 0.38 — the measure sees proportions and nothing else.
Camille Laurent · 3 min read
Explainer · EverydayWith an average of five events per interval, exactly three occur 14.0 % of the time, none at all 0.7 %, and ten or more 3.2 % — about once every 31 intervals. The distribution has one parameter, and it sets both the mean and the variance.
Daniel Okonkwo · 4 min read
Explainer · EverydayThe harmonic mean of 40 and 60 is 48, not 50, because the slower leg takes longer and therefore counts for more. For 1, 2 and 4 it is 1.714 against an arithmetic mean of 2.33.
Lena Hoffmann · 3 min read
Explainer · EverydayFor 2, 5, 7, 8, 10, 13, 18, 21, 25, 30 the range is 28, the standard deviation 9.24 and the IQR 13. Replace the last value with 300 and only the IQR survives unchanged.
Lena Hoffmann · 3 min read