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I Don't Remember my College Statistics Terminology
Old 07-11-2018, 01:32 PM   #1
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I Don't Remember my College Statistics Terminology

I have a question that, in asking, I don't even know how to express what I want.

The question is, wrt FireCalc, about the average amount after all the runs.

Is there an 'expected' or 'typical' average? For instance, if I had ten numbers, nine of which were 90 and one was 190 then the average would be 100 but would most likely be 90. I don't know the term for what I want...

Is there a term for that kind of thing? And is that term available for the amount left over after running all the time periods in FireCalc?

I will happily answer questions about my question! I think it might be called standard deviation.

I realize this is a comforting number for me and I shouldn't base any decisions on its value. I would just like to discuss this with my wife to make us feel better!

Thanks,
Mike D.
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Old 07-11-2018, 01:35 PM   #2
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Mean, median and mode.

Mean is the sum of all divided by the number of items.
Median is the point at which exactly half the items are above it, the other half below it.
Mode is the greatest number, so in your example, 90 is the mode.

Those are the principal types of "average".
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Old 07-11-2018, 02:09 PM   #3
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Thank you.

Does FireCalc give the mode of the amount left over after the runs?

Mike D.
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Old 07-11-2018, 02:14 PM   #4
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Quote:
Originally Posted by MikeD View Post
Thank you.

Does FireCalc give the mode of the amount left over after the runs?

Mike D.
It gives you the minimum, maximum, and average portfolio value left over, in todays dollars.
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Old 07-14-2018, 09:37 AM   #5
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Old 07-23-2018, 05:44 PM   #6
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Just saw this thread now.
It would probably be helpful and more representative in showing the median vs. the mean, but I do realize there are not really new developments going on right now.
Still a great tool of course.
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