Statistical ranking methods

Statistical ranking methods are techniques used to arrange items or options based on data that measures their performance or qualities. They analyze various factors to determine which items are better or more significant. For example, ranking students by test scores, movies by viewer ratings, or websites by traffic. These methods help identify leaders or priorities objectively, often using formulas or algorithms to compare data points, account for variability, and ensure fair ordering. Overall, they turn complex data into an understandable hierarchy or order that reflects relative performance or importance.