HomeFundamentals Business Maths StatsMean, Median and Mode – Definition, Types and Examples

Mean, Median and Mode – Definition, Types and Examples

What is Mean, Median and Mode

The mean, median, and mode are all measures of central tendency, which is a way of describing a set of data. The mean is the most commonly used measure of central tendency, and is calculated by adding up all of the data points and dividing by the number of data points. The median is the middle value in a set of data, and the mode is the value that appears most often in a set of data.

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    Introduction to Mean, Median, Mode, and Range

    In mathematics, the mean, median, mode, and range are all measures of central tendency. The mean is the most common measure of central tendency, and is calculated by adding all of the numbers in a set and dividing by the number of items in the set. The median is the middle value in a set of numbers, and is calculated by arranging the numbers in ascending order and finding the middle number. The mode is the value that appears most often in a set of numbers, and the range is the difference between the largest and smallest numbers in a set.

    Meanings of the name Aesop

    The name Aesop is a Greek name. In Greek, the name Aesop means “storyteller.”

    Median Income

    The median income in Norwich is $37,318.

    Mode

    The mode of a set is the number that occurs most often in the set.

    Example:

    The mode of the set {1, 2, 3, 4, 5} is 5.

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