In Mathematics and Statistics, we deal with data set if the data set is small there are no issues but when it comes to large amount of data it becomes a bit difficult to represent it so to know the big picture of such large amount of data Mean, Median, Mode comes into rescue.It gives us the insights of the data set.

We will understand Mean, Median, Mode considering data set of the salary package of students offered by the companies.

What is Mean?#

Mean is the value which we get after summation of all the data and dividing it by total number of data in the data set.

Understanding it by our data set,

If we sum up all the salary packages in the data set and divide it by total number of students then we get the Mean salary package of students which is also called as an Average.

A good to know stuff that Mean keeps a track of each and every data in the data set so it can be impacted by the outliers.

Let’s understand the above statement by a scenario In a classroom of 55 students maximum students get salary package of 4 to 6 Lakhs per annum but two students are offered salary package of 50 Lakhs per annum.

Due to these two students the average salary will increase. So these two students are outliers and they have impacted on the value of our mean.

Formula for Mean

Formula for Mean

Explanation with small data set

Calculating Mean in small data set

What is Median?#

Median is the value present in the middle th position after sorting the data in to ascending order.

Understanding it by our data set,

So, to calculate the median first we have to arrange the salary packages of students in an ascending order. After sorting the data, we have to find the salary package present at the middle th position.

Calculating the Median

Unlike mean, median will not have impact of the outlier because it does track all the data in the data set. It only gives importance to the data present in the centre.

Explanation with small data set

Calculating Median in small data set

What is Mode?#

Mode is the value which has occurred Maximum number of times in the data set.

Understanding it by our data set,

In our data set 5 lakhs per annum salary was given to maximum number of students so 5 Lakhs will be the mode.

And there can be more than one mode if the occurrences of multiple data are same.

Suppose 5 Lakhs per annum salary was given to 12 students and 6 Lakhs per annum salary was also provided to 12 students so both 5 Lakhs per annum and 6 Lakhs per annum will be the mode

Explanation with small data set

Finding out Mode

The END#