Statistics equations are the formulas that are used to describe data, to figure out things like means, averages and medians, and essentially to allow us to understand our world a little bit better. Statistics give us an idea of things like election results, the prevalence of certain trends and even the likelihood of disease outbreaks. When studying statistics, a chart that allows you to keep track of the various formulas is quite handy. Not only will it give you a good reference point for the various equations, it will also help you memorize them quickly.