In: Statistics and Probability
Answer)
Mean is the average of all the data
For example if you have 5 observations, 1, 2, 3, 4, 5
Then the average (mean) would.be (1+2+3+4+5)/5 = 3
That is sum of all the observations/number of observations
It is the most commonly used center of measure
For example it can be used to represent a student's grade
Suppose he scored, 80, 75, 77, 89, 92 in five subjects
So we can say that overall he scored (80+75+77+89+92)/2
= 82.6
Median-
It is the middlemost number of the arranged data
Arranged means arranged in ascending order
For example median of the data (1, 2, 3, 4, 5) is 3 (as it is the middlemost)
When we describe the salary of a certain area
We say median salary is $x
Here median is the best measure to tell about the center of the data
Mode-
It is the one which occurs most
For example in the data
1, 2, 2, 3, 4, 5
2 is mode, as it occured twice while rest of them occured only once
Now suppose, you want to determine the center of the data where there is a huge difference in between big numbers and small numners
And if you will use mean, then it would be near to the big number and small numbers would.be ignored
Here in this case we use mode
For example
Lets say in a town there are a lot of people working in a factory at low wages, but there are a very few owners who are earning a huge amount
Here in this case we can use mode to properly determine the center of the data