The mean is the average value in a dataset. To calculate the mean, you add up all the values in your dataset and divide by the total number of values.
The median is the middle value in a dataset. This means half the values in the dataset are larger than the median, and half the values are smaller than the median.
You can find the median by arranging all the values in a dataset from smallest to largest. If you arrange your five values in this way you get: 3, 5, 10, 12, 50. The median, or middle value, is 10.
If there are an even number of values in your dataset, the median is the average of the two middle values. Let’s say you add another value, 8, to your set: 3, 5, 8, 10, 12, 50. Now, the two middle values are 8 and 10. To get the median, take their average.
(8+10)÷2=18÷2=9(8+10)÷2=18÷2=9
The median is 9.
The mode is the most frequently-occurring value in a dataset. A dataset can have no mode, one mode, or more than one mode.
The Mean is extremely sensitive to outliers - if there are outliers in the dataset it is usually better to use median as the measure of centre, and if there are no outliers the mean works better.
The mode is useful when working with categorical data because it clearly shows you which category occurs most frequently.
The range is the difference between the largest and smallest value in a dataset.