Write a short note on Mean, Median and Mode.
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Mean, median, and mode are measures of central tendency used in statistics to summarize a dataset and describe its typical or central value.
Mean: The mean, also known as the average, is calculated by summing up all the values in a dataset and dividing by the total number of values. It represents the arithmetic average of the data and is sensitive to extreme values, making it influenced by outliers.
Median: The median is the middle value in a dataset when the values are arranged in ascending or descending order. If there is an even number of values, the median is the average of the two middle values. The median is less affected by extreme values compared to the mean, making it a robust measure of central tendency.
Mode: The mode is the value that occurs most frequently in a dataset. A dataset can have one mode (unimodal), two modes (bimodal), or more than two modes (multimodal). The mode is useful for identifying the most common value or category in a dataset and is often used for categorical or nominal data.
These measures provide different perspectives on the central tendency of a dataset and are used in various statistical analyses to summarize and interpret data.