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Mid-range. In statistics, the mid-range or mid-extreme is a measure of central tendency of a sample defined as the arithmetic mean of the maximum and minimum values of the data set: [1] The mid-range is closely related to the range, a measure of statistical dispersion defined as the difference between maximum and minimum values.
The five-number summary gives information about the location (from the median), spread (from the quartiles) and range (from the sample minimum and maximum) of the observations. Since it reports order statistics (rather than, say, the mean) the five-number summary is appropriate for ordinal measurements, as well as interval and ratio measurements.
Midhinge. In statistics, the midhinge is the average of the first and third quartiles and is thus a measure of location . Equivalently, it is the 25% trimmed mid-range or 25% midsummary; it is an L-estimator . The midhinge is related to the interquartile range (IQR), the difference of the third and first quartiles (i.e. ), which is a measure of ...
Simple L-estimators can be visually estimated from a box plot, and include interquartile range, midhinge, range, mid-range, and trimean. In statistics, an L-estimator is an estimator which is a linear combination of order statistics of the measurements ( also called an L-statistic ). This can be as little as a single point, as in the median (of ...
In descriptive statistics, the range of a set of data is size of the narrowest interval which contains all the data. It is calculated as the difference between the largest and smallest values (also known as the sample maximum and minimum ). [1] It is expressed in the same units as the data. The range provides an indication of statistical ...
Order statistic. Probability density functions of the order statistics for a sample of size n = 5 from an exponential distribution with unit scale parameter. In statistics, the k th order statistic of a statistical sample is equal to its k th-smallest value. [1] Together with rank statistics, order statistics are among the most fundamental ...
Interquartile mean. The interquartile mean ( IQM) (or midmean) is a statistical measure of central tendency based on the truncated mean of the interquartile range. The IQM is very similar to the scoring method used in sports that are evaluated by a panel of judges: discard the lowest and the highest scores; calculate the mean value of the ...
The use of the MAPE as a loss function for regression analysis is feasible both on a practical point of view and on a theoretical one, since the existence of an optimal model and the consistency of the empirical risk minimization can be proved.
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