Mean, Median and Mode

23, Jan, 2024

Mean, Median, and Mode are measures of central tendency used in statistics to describe the center or average of a set of data:

Mean:

The mean, often referred to as the average, is calculated by adding up all the values in a dataset and then dividing the sum by the total number of values. It is sensitive to extreme values, also known as outliers.

Example:

```
The Set used here is {2, 4, 6, 8, 10}
```

Sum = 2+4+6+8+10;

N = 5;

Mean = (Sum/N) = 30/5 = 6

Median:

The median is the middle value in a sorted list of numbers. To find the median, the data must be arranged in ascending or descending order. If there is an even number of values, the median is the average of the two middle values.

Example:

```
- For set 1,3,5,7,9 the median is 5.
```

- If the set is 2,4,6,8 the median is (4+6)/2 = 5.

Mode:

The mode is the value that appears most frequently in a dataset. A dataset may have one mode (unimodal), more than one mode (multimodal), or no mode if all values are unique.

Example:

In the dataset 2,3,3,4,6 the mode is 3 because it appears more frequently than any other value.

These measures provide different perspectives on the central tendency of a dataset. The mean reflects the average value, the median represents the middle value, and the mode identifies the most common value. Each measure has its strengths and weaknesses, and the choice of which to use depends on the nature of the data and the specific goals of the analysis.

More references...