Mean, median and mode are three kinds of averages. The mean, median and mode is used to obtain information about a population from our sample set of observed values.
Mean is the average value of the series. The mean of a set of observations is equal to their sum divided by the total number of observations.
Median of a distribution is the value of the variable which divides the distribution into two equal parts. It is the value of the variable such that the number of observations above it is equal to the number of observations below.
Mode is the value which occurs most frequently in a set of observations and around which the other items of the set cluster densely. The mode of a frequency distribution is that value of the variable which has maximum frequency.
How to Find the Mean Median and Mode?
In a moderately symmetric distribution, the mean, median and mode are connected by the formula:
Mode = 3 Median – 2 Mean