Discuss the concepts of Mean, Median, Mode, and Standard Deviation, including when each should be used, and evaluate the differences of each. How can knowing this information about data help us?

The mean is a mathematical concept that is used to determine what the average number is in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the mean is 2.4 ([tex]\frac{5+1+1+1+4}{5}[/tex]), where /5 is the sum of the given set of numbers.

What is the Median?

The median is a term used to represent the middle value in a given set of numbers. For example, given a set of numbers, 5, 1, 1, 1, and 4, the median is 1 because it is the middle for this set of numbers counting from left to right.

What is the mode?

The mode is a term that refers to the most frequently repeated value in a given set of numbers. For example, given a set of numbers 5, 1, 1, 1, and 4, the mode in the set is 1 since it occurs most, exactly three times.

What is the Standard deviation?

Standard deviation is a statistical method used to determine how far (i.e the deviation) of a given dataset relative to its mean. It is often calculated as the square root of variance.

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