Statistics Tutorials: Mean, median and mode

👉 Download Our Free Data Science Career Guide:✅https://bit.ly/3gSGamy 👉 Sign up for Our Complete Data Science Training:✅https://bit.ly/2CvBhRy This video will introduce you to the three measures of central tendency: mean, median and mode. Even if you are familiar with these terms, please stick around, as we will explore their upsides and shortfalls. The first measure we will study is the mean, also known as the simple average. It is denoted by the Greek letter mu for a population and x bar for a sample. These notions will come in handy in the next section. We can find the mean of a data set by adding up all of its components and then dividing them by the number of components contained in the data set. The mean is the most common measure of central tendency but it has a huge downside – it is easily affected by outliers So, how can we protect ourselves from this issue? You guessed it, we can calculate the second measure – the median. The median is basically the ‘middle’ number in an ordered data set. Finally, the mode is the value that occurs most often. It can be used for both numerical and categorical data.

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