Statistics for mean, median, mode

Mean: The average of a set of numbers calculated by adding all the numbers together and dividing by the total number of values.

Median: The middle value in a set of numbers when they are arranged in

Mean

- Definition: The average of a set of numbers
- Formula: Mean = Sum of all numbers / Number of numbers
- Example: If the numbers are 2, 4, 6, 8, and 10, the mean would be (2 + 4 + 6 + 8 + 10) / 5 = 6.
- Advantages: Takes into account all the numbers in the data set.
- Disadvantages: Can be skewed by outliers (extreme values).

Median

- Definition: The middle value of a set of numbers when arranged in order from smallest to largest
- Formula: N/2 + 1th value (if n is odd) or (N/2) + (N/2 + 1) / 2th value (if n is even)
- Example: If the numbers are 2, 4, 6, 8, and 10, the median would be 6.
- Advantages: Not affected by outliers.
- Disadvantages: Can be misleading if the data is skewed.

Mode

- Definition: The value that appears most frequently in a set of numbers
- Formula: No specific formula
- Example: If the numbers are 2, 4, 4, 6, 8, and 10, the mode would be 4.
- Advantages: Easy to identify and understand.
- Disadvantages: Not as meaningful as mean or median when there is more than one mode or no mode.