Mean, Median, Mode and there significance.

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.

Population Mean Vs Sample Mean.

The very first step of statistical analysis is to find out the data is a population or sample. So, what the hell is population and sample and how they are different from each other…?

Let’s understand it by an example

Suppose you want to survey the salary of the people living in the particular state.