Even if you fear statistics by its reputation, it is one of the easiest sections in the GMAT because a standard set of questions is asked and anyone who understands the fundamentals that I shall describe will be able to ace the questions. The three most basic topics in stats are mean, mode, and median. Usually, the GMAT will go one step further into range and standard deviation.

Mean: Mean is the average. Let’s say there are two numbers: 6 and 8. The mean would be:

(6+8)/2 =14/2 =7. If you analyze the number 7, it makes sense that it is average of 6 and 8. Using the same approach, the mean of n numbers a1,a2,a3…….an would be (a1+a2+a3…..+an)/n. If you remember this formula, you should be able to do well with mean questions. We shall discuss some of the standard questions in subsequent blogs, but for right now, remember the key formula and start doing some mean and average questions from Grockit games.

Mode: Let’s say that you are given a set of numbers, such as {4,3,7,9,9,11,10}. In order to find the mode, you have to arrange the numbers in ascending order and find the number which occurs the most. For the set in the example, the ascending order is {3,4,7,9,9,10,11} and 9 occurs the most (two times) and thus is the mode in this example. A set of numbers can also have two or more modes. For example, the set {1,2,5,5,9,9,10,11} has both 5 and 9 as the mode. The most important thing is to arrange the numbers in ascending numbers while tackling such problems.

Median: Taking the set {4,3,7,9,9,11,10} and arranging them in the ascending order {3,4,7,9,9,10,11}; the median would be the middle number. Since there are seven numbers, the fourth number would be the middle number and hence 9 is the median. Here it was a bit easier since there was an odd number of numbers in the sequence. If there is an even number of numbers in the sequence, then there are 2 middle numbers and median would be the average of those two middle numbers. Take, for example, {3,4,7,9,9,10,11,12}. In this sequence, there is one more number (12) than our previous set and thus a total of 8 numbers in the sequence. The median would be the average of the fourth number (9) and fifth number (9); the average of 9 and 9 is of course 9. Consider another sequence:{3,4,7,9,10,11,12,13}. Here there are 8 numbers and the median is 9.5 (the average of the middle numbers, 9 and 10).

Range: When a sequence is provided in the ascending order, the range of a sequence is the difference between the first and last term of the sequence. For {3,4,7,9,10,11,12,13}, the range is 13-3=10. I think this is sufficient to understand all your GMAT range questions. Once again, just remember to put all your numbers in ascending order.

Standard Deviation: Even though the formula for standard deviation may seem complicated, all there is to standard deviation is how much all of the numbers deviate from the mean. I shall explain this in detail in another blog but for right now, remember that standard deviation is the distance of each number from the mean and is best denoted by the following formula:

Standard deviation = sqrt((x-xa)sqr )/(n-1) where n = total numbers in sequence and xa is the mean of the sequence. If you look closely at the formula, the numerator is square of x-xa, which is actually the distance of each number from the mean.

**Top 31 MBA Programs + Analysis of 24 Industries (United States)**We analyze the MBA Curriculum, Class Profile, Total Cost and Post-MBA Salary of

**Top 31 MBA programs in the US.**

+ Industry Trends

+

+ Industry Trends

**Future of**Aerospace, Agriculture, Artificial Intelligence (AI), Automobile, Clean Tech, Education, Energy, Fashion, Financial Services, Insurance, FinTech, Government, Healthcare, Life Sciences, Military, Manufacturing, Maritime, Media/Advertising, Technology, Tourism, Trade, Transportation and Logistics, Virtual Reality (VR), and Augmented Reality (AR).

**Pages: 327**

**Reviews**

"I have not reviewed many books for MBA Admission consulting companies but doing it now to give all applicants a brief idea on what the book covers. The book includes 31 top MBA programs - almost all the top schools you have heard or considering for your MBA application. Each chapter is categorized by US States where there is at least one top MBA program. So you have California and Massachusetts with the most number of MBA programs and several states with one top program (Washington, Minnesota, Washington D.C., Connecticut, Virginia, and Maryland) and other states with two to three MBA programs. The book focuses on four aspects of an MBA program - curriculum, cost, class profile and post-MBA salary. For me, the breakdown of the cost and post-MBA industry was useful to make my decision on selecting the top 5 programs for 2017-18. It is a fascinating read in an industry where consultants overprice for their expertise. I recently bought a 30-page guide for $49. Compared to the obvious observation in that book, the 300+ page, MBA in US - the Ultimate guide is a goldmine of information and analysis." -

**Verified Purchase (21st June 2017)**

"I bought the ultimate guide after a friend recommended it for me. The guide covers a lot of ground on the history of each prominent US states and goes into the reasons why a certain industry emerged from each state. In addition to the analysis of the economy, trends and expected changes in the next 5 years, the book features top MBA programs in each state with an extensive study of its curriculum. Ultimate guide is an essential reference book for MBA Applicants if they want to shortlist MBA programs based on value and cost, and not just ranking. " -

**Verified Purchase (14th June 2017)**

"Should be a required reading before applying for an MBA. School events and MBA Tours are PR events disguised as a Q&A. On the contrary, the book is an unbiased analysis of each Top MBA program in the US supported by a large dataset and historical context on each industry. The guide builds a case for indstries that are likely to emerge as favourite for MBA graduates. Thorough and a valuable book."

**- Verified Purchase (15th June 2017)**

"What I liked: The breadth of the information. Some of my favorite nonfiction books have taken the same approach as the ultimate guide have - cover background information in-depth. In the book, the author uses parallel threads to demonstrate the history of the state and the rise of industries. Will make you think how schools thrive based on the policy set by the state. California's obsession with Technology has revolutionized how we do Business and changed post-MBA trends. Many MBA applicants will be consulting or doing marketing for a Technology company. That is one key finding from the book. The latest development in AI, FinTech, and Automation is an additional context that I found valuable in the book.

Very informative. I would recommend that you read the book at least once in chronological order before using Table of Contents." -

**Verified Purchase (2nd July 2017)**

Download How to Choose the Best MBA in US: The Ultimate Guide

(2018 Entering Class)

Download How to Choose the Best MBA in US: The Ultimate Guide

(2018 Entering Class)