One of the most important concepts to understand in introductory statistics and in Quantitative Business Analysis is how to find “middle” of a set of data. This is often done using the mean, the median, and the mode.
Click here to watch the video, which discusses the importance of finding the “middle” of a set of data.
https://www.khanacademy.org/math/probability/data-distributions-a1/summarizing-center-distributions/v/statistics-intro-mean-median-and-mode
Each measure of the “middle” (the mean, the mode, and the median) has its strengths and weaknesses. In 150 words, use everyday examples from work or home to identify cases where 2 of these measures would be good or bad. Use complete sentences, please.
