Mean, Median, Mode and Range

Mean

The mean is calculated by adding up all the values in a set of data and then dividing by the number of values.
To find the mean of a frequency distribution, multiply each value by its frequency, then add up these products and divide by the total frequency.
The mean is often referred to as the ‘average’.

The median is the middle value in a set of data when the data is arranged in ascending or descending order.
If there is an even number of data points, the median is the mean of the two central points.
The median can be a better measure of central tendency when data is skewed or there are extreme outliers.

The mode is the value that appears most frequently in a data set.
A dataset may have more than one mode (bimodal, trimodal, etc.) if multiple values appear with the same greatest frequency.
If no value repeats, the data set does not have a mode.

The range is the difference between the highest and lowest values in a set of data.
It provides a measure of how spread out the values in a data set are.
The range is greatly affected by outliers or extreme values in the set.
Small ranges may suggest the data is consistent, while large ranges suggest data is widely spread out.

Understanding the mean, median, mode, and range helps provide a comprehensive picture of a dataset.
The mean may provide a general sense of the ‘average’, but the median can offer a clearer picture of the middle range, especially in skewed distributions.
The mode indicates the most frequently occurring value, letting you identify common elements or trends.
The range gives you an overall sense of the spread of your data and the variability within it.
Consider all these statistical measures together when analysing a dataset to make more informed and accurate conclusions.