Interpret all statistics for Time Series Plot

Find definitions and interpretation guidance for every statistic that is provided with the time series plot.

N

The sample size (N) is the number of nonmissing observations for a Y variable or a group.

Mean

The mean is the average of the data, which is the sum of all the observations divided by the number of observations.

For example, the wait times (in minutes) of five customers in a bank are: 3, 2, 4, 1, and 2. The mean waiting time is calculated as follows:
On average, a customer waits 2.4 minutes for service at the bank.

Interpretation

If the plot shows a systematic change in the data over time, then you should use caution when interpreting a summary statistic such as the mean. For example, if the data values increase over time, then the mean is likely to also increase over time.

StDev

The standard deviation is the most common measure of dispersion, or how spread out the data are about the mean.

Interpretation

If the plot shows a systematic change in the data over time, then you should use caution when interpreting a summary statistic such as the standard deviation. For example, if the data values increase over time, then the standard deviation is likely to also increase over time.

Minimum

The minimum is the smallest data value.

In these data, the minimum is 7.

13 17 18 19 12 10 7 9 14

Interpretation

If the plot shows a systematic change in the data over time, then you should use caution when interpreting a summary statistic such as the minimum. For example, if the data values decrease over time, then the minimum is likely to also decrease over time.

Maximum

The maximum is the largest data value.

In these data, the maximum is 19.

13 17 18 19 12 10 7 9 14

Interpretation

If the plot shows a systematic change in the data over time, then you should use caution when interpreting a summary statistic such as the maximum. For example, if the data values increase over time, then the maximum is likely to also increase over time.

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