There is no such thing. Different measures are best in different circumstances.
If asked what the "central" colour of a car was, neither the mean nor median can even be calculated. You would not add a red car and a blue car to average at a purple car! On the other hand, you would have to be pretty lucky to find a mode for a continuous variable.
Similarly, one can come up with scenarios where the median or the mean beat the other two measures of central tendency hands down.
why should a executive look at descriptive statistics along with graphical displays of a data set
descriptive statistics-quantitavely describe the main features of a collection of data. Descriptive statistics are distinguished from inferential.Statistics(or inductive statistics),in that descriptive statistics aim to summarize a data set,rather than use the data to learn about the population that the data are thought to represent.
descriptive statistics-quantitavely describe the main features of a collection of data. Descriptive statistics are distinguished from inferential.Statistics(or inductive statistics),in that descriptive statistics aim to summarize a data set,rather than use the data to learn about the population that the data are thought to represent.
Descriptive statistics describe the main features of a collection of data quantitatively. Descriptive statistics are distinguished from inferential statistics (or inductive statistics), in that descriptive statistics aim to summarize a data set quantitatively without employing a probabilistic formulation, rather than use the data to make inferences about the population that the data are thought to represent.
A descriptive statistic describes the characteristics of a known set of data; such as mean, median, mode, range, standard deviation and so forth.
data pattern
Descriptive is when a few represent the whole population. Inferential infer the nature of a lager usually infinite set of data that we don't have.
The median.
The division of statistics are generally divided into two groups: inferential and descriptive. Inferential statistics require that a conclusion is drawn from data, based almost solely on human inference. Descriptive statistics are numbers that describe a set of data.
Descriptive statistics label, name, or give information about a variable. Inferential stats are inferred from a smaller data set to be valid for the whole population.
If we are building things, I would assume it means 'take a measure from the center to the edge'It could also mean 'the size of the center'In mathematics the 'measure of center' is the means how to determinate the center most of a data set.(elementary statistics) The four measures of center are mean, median, mode, and mid-rangeMean -- The mean is what you know as the average. It is calculated by taking all of the values in a set and dividing them by the total number of values in that set.Median -- The median is the number that is in the middle of a data set that is organized from lowest to highest or from highest to lowest.Mode - The mode is the number that repeats most often in a data set.Midrange - The midrange is calculated by adding the highest and lowest values of a data set together, and dividing the sum by 2.
The most frequent item in a data set is called the mode.