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Suppose we have set of values and one arbitrary. Then we perform an ... I don't know what call this... an index of a value in this way:

$$ \frac{x-\text{min}}{\text{max}-\text{min}} $$

So for given set we can see if we are dealing with values that are high or low for particular boundaries of data.

rsk82
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1 Answers1

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You can call it "normalization". The idea is that you are taking a range of values and scaling and translating them to lie in a standard ("normal") range of $0$ to $1$.

Though I am not very familiar with statistics, I believe this is the standard terminology. For example, see this Wikipedia page, or just google normalizing data 0 to 1.

Zev Chonoles
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