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Mean = sum / count. Median = middle value when sorted. Mode = most frequent value.
Use median when data has extreme outliers. Income and home prices are better described by median.
Range = Maximum - Minimum. For 2, 5, 8, 12, 19: range = 17.
Assigns different importance to values. 70% exam score 80 + 30% coursework 60 = weighted average 74.
If every value appears once there is no mode. Two values tying gives a bimodal distribution.
Population mean uses all values. Sample mean uses a subset to estimate the population mean.
Measures how spread values are around the mean. 68% of values in a normal distribution fall within one standard deviation.
Use the midpoint of each class interval, multiply by frequency, sum all products, then divide by total frequency.