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Mean, Median, and Mode
Mean is the average of a set of numbers. Median is the number in the middle when arranged in numeric oder. The mode is the most frequently used number in a set.
The median or mode should be used instead of the mean in distributions with extreme outliers. In such cases, the mean can be a misleading measure of central tendency and the median value or the mode value are typically more accurate measures.
The mode is the only one of these measure which can be used with qualitative data: the mean or median are impossible to compute. Also, for a data set consisting of a relatively small number of observations of a discrete variable the mode or modal class is the easiest to find.
They are measures of central tendency and are used to to give a summary measure for some set of observations.