What is maximum and minimum value in statistics?
The minimum is the smallest value in the data set. The maximum is the largest value in the data set. Learn more about how these statistics may not be so trivial.
What is definition of minimum in statistics?
The statistical minimum or l, also known as the low outlier limit, is the minimum value in a set of values, excluding any outliers. The statistical maximum or h, also known as the high outlier limit, is the maximum value in a set of values, excluding any outliers.
How do you interpret minimum and maximum in descriptive statistics?
The minimum value (77.4) is the minimum of the observations – the smallest one. The maximum value (115.1) is the maximum of the observations – the largest one. And the range is simply the maximum observation – the minimum value (115.1 – 77.4 = 37.7). The range has to be greater than or equal to 0.
What is meant by minimum and maximum?
Minimum means the least you can do of something. For example, if the minimum amount of dollars you must pay for something is seven, then you cannot pay six dollars or less (you must pay at least seven). You can do more than the minimum, but no less. Maximum means the most you can have of something.
What do you mean by maximum?
the greatest quantity or value attainableDefinition of maximum 1a : the greatest quantity or value attainable or attained. b : the period of highest, greatest, or utmost development. 2 : an upper limit allowed (as by a legal authority) or allowable (as by the circumstances of a particular case)
What is maximum value?
What Is Maximum Value? The maximum value of a function is the place where a function reaches its highest point, or vertex, on a graph.
How do you find the maximum and minimum of a function?
Use basic rules of algebra to rearrange the function and solve the value for x, when the derivative equals zero. This solution will tell you the x-coordinate of the vertex of the function, which is where the maximum or minimum will occur.
How do you find the minimum and maximum standard deviation?
2:003:04Mean, Median, Standard Deviation, Min, Max, and Range on the TI84YouTubeStart of suggested clipEnd of suggested clipAnd notice the arrow next to q1 that means there's more information below so we press the down arrowMoreAnd notice the arrow next to q1 that means there's more information below so we press the down arrow so the minimum is 40 the x max is the maximum. So the min is 40 the max is 98.
What is the maximum or minimum point?
The maximum value of a graph is the point where the y-coordinate has the largest value. The minimum value is the point on the graph where the y-coordinate has the smallest value.
How do you find the minimum value in statistics?
Using the dataset of child weights above, we can find the min and max. The min is simply the lowest observation, while the max is the highest observation. Obviously, it is easiest to determine the min and max if the data are ordered from lowest to highest. So for our data, the min is 13 and the max is 110.
What is the meaning of minimum in math?
minimum, in mathematics, point at which the value of a function is less than or equal to the value at any nearby point (local minimum) or at any point (absolute minimum); see extremum.
What is the minimum sample size?
The minimum sample size is 100 Most statisticians agree that the minimum sample size to get any kind of meaningful result is 100. If your population is less than 100 then you really need to survey all of them.
What is the symbol for minimum?
For ordering, minimum means 'less than or equal to', which is symbolized in some/many mathematics disciplines as ≤. List A = [1 0 1 0], List B = [1 1 0 0]; List (A[i]≤B[j] = [1 0 0 0].
What is the minimum and maximum value of a sample?
The minimum and the maximum value are the first and last order statistics (often denoted X(1) and X(n) respectively, for a sample size of n ).
What is sample maximum and sample minimum?
In statistics, the sample maximum and sample minimum, also called the largest observation and smallest observation, are the values of the greatest and least elements of a sample. They are basic summary statistics, used in descriptive statistics such as the five-number summary and Bowley's seven-figure summary and the associated box plot .
Why are sample extrema sufficient statistics?
The reason the sample extrema are sufficient statistics is that the conditional distribution of the non-extreme samples is just the distribution for the uniform interval between the sample maximum and minimum – once the endpoints are fixed , the values of the interior points add no additional information .
What is extreme value theory?
Extreme value theory. Events can be beyond the extreme of any previously observed, as in the 1755 Lisbon earthquake. Sample extrema play two main roles in extreme value theory : secondly, they can sometimes be used in estimators of probability of more extreme events.
Can sample extrema be used as estimators?
Due to their sensitivity to outliers, the sample extrema cannot reliably be used as estimators unless data is clean – robust alternatives include the first and last deciles .
Which statistic is least robust?
The sample maximum and minimum are the least robust statistics: they are maximally sensitive to outliers.
Is a leptokurtic distribution inefficient?
They are inefficient estimators of location for mesokurtic distributions, such as the normal distribution, and leptokurtic distributions, however.
What is range in statistics?
It is intuitively obvious why we define range in statistics this way - range should suggest how diversely spread out the values are , and by computing the difference between the maximum and minimum values, we can get an estimate of the spread of the data.
Why is range limited?
This limitation of range is to be expected primarily because range is computed taking only two data points into consideration. Thus it cannot give a very good estimate of how the overall data behaves.
How many grams are in a lab rat?
For example, suppose an experiment involves finding out the weight of lab rats and the values in grams are 320, 367, 423, 471 and 480. In this case, the range is simply computed as 480-320 = 160 grams.
Is range a good indicator of spread?
As a student of statistics you should understand what kinds of data are best suited to be defined based on range. If there are too many outliers, it may not be a good idea. But range gives a quick and easy to estimate indication about the spread of data.
Basic Concepts
From Figure 1, we see that there is a local minimum at x = .732051 (i.e. minimum value in the vicinity of this x value) and a local maximum (i.e. maximum value) at x = -2.73205. We will show how we arrived at these specific values shortly. In the interval [-5, 5] neither of these is a global minimum or maximum.
Multivariate Case
See Local Maxima/Minima of a Multivariate Function for information about how to find the local maxima and minima of a continuous function in two or three variables.
Background
The Minimum
- We start by looking more closely at the statistics known as the minimum. This number is the data value that is less than or equal to all other values in our set of data. If we were to order all of our data in ascending order, then the minimum would be the first number in our list. Although the minimum value could be repeated in our data set, by definition this is a unique number. There ca…
The Maximum
- Now we turn to the maximum. This number is the data value that is greater than or equal to all other values in our set of data. If we were to order all of our data in ascending order, then the maximum would be the last number listed. The maximum is a unique number for a given set of data. This number can be repeated, but there is only one maximum for a data set. There cannot …
Limitations of The Maximum and Minimum
- The maximum and minimum are very sensitive to outliers. This is for the simple reason that if any value is added to a data set that is less than the minimum, then the minimum changes and it is this new value. In a similar way, if any value that exceeds the maximum is included in a data set, then the maximum will change. For example, suppose that the value of 100 is added to the data …