Mode is the value that occurs with the greatest number of frequency. For example- if the given set of values are 2, 3, 2, 4, 5, 2, 3, 1, 6 the mode here would be 2 which appears thrice. However, when there are 2 or more values appearing with same frequencies then the mode is […]
How to Calculate Mode? (With Examples, Formula, Merits & Demerits)
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How to Calculate Arithmetic Mean? | Statistics (With Formulas)
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In this article we will discuss about the calculation of simple and weighted arithmetic mean with the help of formulas. Arithmetic mean is a commonly used average to represent a data. It is obtained by simply adding all the values and dividing them by the number of items. Arithmetic mean can be a simple arithmetic […]
How to Calculate Median? (With Formula, Examples, Merits and Demerits)
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Median is the middle value in a distribution. It is a positional average. Median divides the data into equal halves, wherein 50 percent of the values lie below the median and 50 percent of the values lie above the median. Before determining the middle value, the observations have to be arranged in an ascending or […]