Quick check · Median
Level I · Optional · Open anytime
Introduction to Descriptive Statistics
Extend the core course's overview of distributions with a short, practical descriptive-statistics lab. Work from small, visible samples to medians, modes, quartiles, frequency summaries, and a clear research exhibit. These are descriptions of observed data, not forecasts or tests of a population claim.
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Describe a sample · Section 1 of 2
Median and mode: two different kinds of typical
First decide what one observation represents: one trade, one account, or one day. Sort numerical values from smallest to largest before finding the median. With an odd count, take the middle observation; with an even count, average the two middle values. The median splits the ordered sample, but need not be an observed value.
The mode is a value with the largest frequency. A sample can have several modes; when every value occurs once, it is usually more useful to report no distinctive mode than to call every observation typical. For categories such as execution venue, a mode is meaningful but a numerical mean or median usually is not.
The mean describes the arithmetic balance point, while the median describes rank. A few large trades can pull mean trade size far above median trade size. Report both when this difference matters. Neither tells you whether the strategy was profitable, and a median of individual trades is not a portfolio return.
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Keep in mind: Choose a summary that matches the question, and distinguish frequency, rank, and arithmetic balance.
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Quick check · Mode
Orders use venues A, B, B, C, C. What should you report?
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The full elective is included with Level I enrollment, together with the core course and the official examination.
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A compact companion to the core course: calculate medians and modes, compare ranges and quartiles, read empirical percentiles, and build honest frequency summaries.
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