Anonymous
Anonymous asked in Education & ReferenceHomework Help · 1 month ago

What are the differences between the arithmetic mean, the median, and the mode?

ECON351-556-Sum2020 Bus/Econ Stat I 

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  • Anonymous
    1 month ago

    The arithmetic mean is the sum of a set of numerical data divided by the number of data in the set.

    The median is middle datum is a set of numerical data that has been ordered in ascending or descending numerical order.

    The mode is the datum that occurs most in a set of data.

    Example:

    The data are 1, 2, 2, 3, 3, 4, 4, 4, 5.

    The arithmetic mean is (1 + 2 + 2 + 3 + 3 + 4 + 4 + 4 + 4 + 5)/9 = 3.11...

    The median is 3.

    The mode is 4.

     

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