Mean is the average of given set of data. Mean can be used in situations when finding the

average is meaningful. It is used when the observations are quantitative and does not have

outliers. Median is the middle most observation after the observations have been arranged

in order magnitude. Median is used when there are extreme observations present in the

data, or when the data set is open ended or if there are any missing values. It is mainly

suitable for ordinal data set.Mode is the most repeated observation in the data. Mode is

preferred mostly when the observations are measured on a nominal scale. Standard

deviation determines the spread of observations about the mean. Standard deviation can be

used to summarize continuous data and when there are no outliers. It can be used to

determine if the data fits a normal curve. The main difference between these is mean,

median and mode are measures of central tendency whereas standard deviation is a measure

of dispersion. Statistically, there are many different ways to analyse sets of numbers. Mean,

median, mode, and standard deviation are examples of statistical analysis that are

commonly used. Mean is the average. The numbers are added together and divided by the

number of numbers being utilized. The median is the middle value of the numbers being

analysed. It doesn't have to be one of the numbers in the set. The mode is the number or

numbers that occur most frequently in the set. Standard deviation is the difference between

numbers in a set. Essentially, it is the distance the numbers are from each other. Standard

deviation is best observed when plotted on a graph, however the other analytics described

above can be analysed either by graphs, charts, or data sets.

I am an Engineering Technician, which is a Project Manager with a few other

responsibilities thrown in. I am constantly analysing data to make recommendations on

capital improvements or process improvements. As an example, temperature trends are

analysed constantly. We do not have a building automation system, so adjustments have to

be made manually. These adjustments are made based on the average temperatures in each

area. The standard deviation lets us know how the internal temperatures are responding to

the outside air temperature based on the time of day. Outliers have to be removed and that

gives us 90% of the data we need to control the climate in our building. The standard

deviation is widely used as a way of telling where you are in the distribution. The z

distribution includes a set of STANDARDIZED Scores, meaning scores have been

converted to tell you how many standard deviations the score is from the mean. A z score

of 1 says you are one standard deviation away from the mean.

In medicine, this concept is used in testing for bone density. Taking a group of healthy

people your own age, a distribution of density is taken. Then, an individual has the same

test, and discovers where they are in the distribution. Thus, a z score of +1 would mean

that you have a bone density that is strong--for your age group.Similarly, a t score is based

on the distribution of healthy 30-year-olds. Comparing yourself against both populations is

important. If a person has a t score of -1, then it means that their bone density is one

standard deviation below the average, 30-year-old person. Below a score of -1, a person is

considered to have a low bone density (osteopenia). Below -2.5, a person is considered to

have osteoporosis. mean, median and mode and the standard division reminds me of when

I was trying to get pregnant. Using an ovulation test and tracking an app gave me details

like the mean median and mode tracking it on a calendar month. If you used an ovulation

test like clear blue, it gave you a four day window to give you an idea when you were

most highly to conceive. I would think the average mean would be the four-day window

and the median would be the centre middle number which it would be the main ovulation

day and the mode I would assume it would be in general the window of conception. I don't

know why I thought of this but it's what reminded me of using the mean, median and mode

on a personal level. The standard deviation would be a chart to keep track if ovulation days

falls the same dates for every month. Analysts will report the results of a stock trading day

by a modified version of a box plot. The exception is that it will indicate by colour whether

it closed lower than the trading value it started out with (black) vs closing higher (clear).

Mean, median, mode, and standard deviation are all different on how they impact reading

data. Mean is commonly known as the average. You calculate mean by first adding up all

of the data to collect the sum. you then count how many numbers you added up and divide

the sum of the set by the number of the set. Median is calculated by arranging data points

from smallest to largest and taking the middle number of the data. if the data is made up

of even numbers than you take the average of the two middle numbers to find the median.

Mode is calculated by finding which one in the data occurs the most. the common way is

to put the numbers in order and count how many times each number occurs. All of this

information is important I'm in different situation when analysing data from finding the

average to the most common number. In my personal life collecting the mean, median and

mode in data happens quite often. For example we are catering lunch for our staff of over

100 for Christmas this year. We took surveys to gather data on the types of food the staff

would like to eat. Calculating the mean and the mode helped us gather an idea on what the

average employee would like to eat and the most liked and least liked foods. The mean,

median, and mode are three kinds of averages. Standard deviation is a measure of how

spread out numbers are. The mean is the average where you add up all of the numbers and

then divide them by the number of numbers present. Median is considered the middle value

in the list of numbers. When determining the median, you list the numbers in numerical

order from smallest to largest, then you locate the number that is in the middle of the list.

Mode is the number in the list that pops up most often. If there is no number that is

repeated in the list, there is no mode for the list. Standard deviation is considered the

average of the squared difference from the mean. To find it, first you need to find the mean

of the list of numbers. Next, subtract the mean from each number and square the result.

Once that’s done, work out the average of those squared differences.

f f f In my professional life I am responsible for using the data of customer’s accounts

and spending habits in order to make a decision as to whether or not they may be

experiencing fraud. One of my main tasks is to look at they dollar amounts on their

transactions and compare them. Finding the median of the dollar amount in the transactions

helps me to decide if their recent transactions make sense for the customer’s account.

Knowing this information helped me to excel in my position and help my company mitigate

fraud. The mean, median and mode are different measurements of a set of numbers. The

mean is when you add up all the numbers in the data set and divide by how many sets of

numbers there are. The median is basically the "middle" value of a given set. Mode is the

number that appears most in the given set. The standard deviation is when the data is

plotted and you are able to see the difference in the deviation of numbers. All of the above

are useful for when analysing graphs or different sets of data. You can find any repetitive

data, the middle of the data and typical averages by using the above information to analyse

it.In my professional life, I analyse numbers constantly, day in and day out. We typically

deal with range but we also do have mode situations which are a big issue in my line of

work. Certain things should not be repeated and when you catch those, you are catching a

system error and are able to correct it properly before the customer's receives their tracking

statements. This is helpful to prevent duplicates and double billing errors. Mean is the

average of a set of numbers while the mode is the most frequently occurring numbers. The

mean can be used for many things such as determining the average temperatures of a

month. This is helpful for those that are determining what activities they can plan. The

median is the middle number of a list of numbers that are in ascending order. The standard

deviation is how far from the mean a group of number is. All of this information is

important when gathering data to provide to those requesting it.In my professional life I

cannot think of a time that I have used this type of information gathering tools however in

personal life this information can be used to figure out housing costs. Or if you are sports

fan it can be used to determine the average amount of yards are ran in a football game. In

my state they have allowed betting online and knowing that information can help you

determine on rather to bet on a game or not. The concepts for mean, median, mode, and

standard are different. Mean is when you add all the numbers in a data set and then divide

it by the number of values in the data set. Median is the middle number in a list of

numbers. Mode is the number that appears the most in a set of data. Standard deviation is

a measure of how spread out numbers are, there can be either a low or high deviation.

Knowing this information about data can help when obtaining specific data. An example of

using mode in my personal life could be if my manager tells me to write down what time

everyone clocked out of work and see what time seems to appear the most for staff

clocking out. An example of median could be a football team lining up and you are asked

to select the middle person and their jersey number to be captain of the team. Those are

both examples of how some of these concepts could be used in every day life. Use of each

is entirely based on what an individual or company desire to achieve from the gathering of

data. For my professional purposes, test scores and studying the results of each concept are

leveraged. We need to know the average test scores in each class and thus identify the

mean often. Less often but still completed are finding the median and modes as compared

to prior classes and per facilitator of same course; how does trainer A compare to trainer

B? Knowing the measurables of each class allow us as leadership to eliminate bias from

our findings and stick to the numerical facts/assessments. To further break down and ensure

that we quickly address any shortcomings in trainings, we look to identify trends in

question missed too. Perhaps our materials need to be strengthened around a particular

topic, once we have adjusted, how did scores change if at all? We want individuals to be

successful post-training, it is up to us to review the data and ensure we do our part if gaps

are identified, and these mathematical concepts allow us to do just that. Knowing the mean

can help you summarize the data. Median is the middle value of the sorted data. You can

find the median by ascending or descending the data in order. It is determined by odd or

even data values. The mode is the measure of centre and is the most frequently occurring

value in dataset. Knowing the mode can help you determine what data is the highest usage

such as how many fouls did each basketball player had in a game. Finally the standard

deviation is a measure of variation between values in a data set. This can be used to find

the entire population of specific information. The mean is an average within a set of

numbers. An example of this is ball batting averages. When you see a professional baseball

player and his given stats or average is the mean because it's the total number of times he

has made contact with the ball divided by the number of times he has gone to the plate to

bat. The Median Is also like an average because its all the numbers lined up in order and

the centre value is the median. It’s different from mean because the numbers are not added

and divided by the number of concepts provided, they are laid out in order. This concept is

used when you're trying to find the average income of a set of people. You place the

highest and one in and the lowest at the other and find the middle value. The Mode is the

most repeated number in a sequence. This gives yet another idea of an average because it's

the most common. You could take a toll having a group of 10 people rate a business, use

a one-to-five-star method. If 4 people gave a 4-star rating and 4 people gave a 2 star rating

and one gave a 5 then the mode is both 4 and 2. It's the most common number in a

sequence. This is something that I must come across with my current job. People can use

our site to give feedback and ratings of the experiences they had while at our company. We

have an average of 4 stars for customer services which is extremely great in my eyes. If

the mode was one star that wouldn't look good for the company, our product or customer

services. Standard deviation is the measurement of the spaces between values. If you're

using a line with values to find the mean median and mode, then the distance between each

value set. Knowing this information and the differences helps us find the averages of a set

of values.