We are talking about mean, median, mode, and range! Exciting stuff, isn't it? These help us understand the data better. Great! Now let us understand the Mean.

1. Mean -

We understand this as Mean is the average of all the values. - Suppose we have 5 values. Now we divide all the values ​​by 5. Let us get the mathematical mean = Sum of values ​​/ Number of values

• Formula: $\text{Mean}=\frac{\text{Sum of values}}{\text{Number of values}}$

Example -

Consider the dataset: 10, 13, 17, 19 $\text{Mean}=\frac{10+13+17+19}{4}=\frac{59}{4}=14.75$

2. Median - 

Now let us understand about the median. The median is the middle value after sorting all the data. For odd numbers, it is just the middle value. For even numbers -

• Formula -
  • For an odd number of values: $\text{Median}=\text{Middle value}$
  • For an even number of values: $\text{Median}=\frac{\text{Sum of two middle values}}{2}$

Example -

Consider the dataset: 10, 13, 17, 19

Since these are odd numbers, the median is simply the middle one which is our lucky number "fifteen" (15).

3. Mode - Mode is a great way to understand what appears the most in our data. Example - Let's take the dataset - 10, 13, 17, 19, 10. Here the number 10 appears twice. So this is the "ten" mode! It appears more than any other number.

4. Range: The range is easy to understand. Range checks how spread out our data is between the high and low points. Range = Maximum value - Minimum value. Example with the dataset - Range = Maximum value 19 (nineteen) - Minimum value 10 (ten) = 9. so 9. is the range between our two values. These methods help us to know more about the dataset.