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TOPIC: Mean vs Median vs Mode

Mean vs Median vs Mode 6 years 2 months ago #3246

  • Fadi Sodah
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Need Clarify the following:

Mean = (1+1+2+3+4+7+10) / 7 = 4 ==>> Average Value
Median = (1,1,2,3,4,7,10) =3 ===> numerical value separate higher from lower value
Mode = (1,1,2,3,4,7,10) =1 ===> numerical value appears most often

Am I correct or far away OFF!

Mean vs Median vs Mode 6 years 2 months ago #3248

  • Cornelius Fichtner
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These are explained in detail in our formula study guide at www.pm-formulas.com :

Mean/Average
In mathematics, an average refers to a measure of the "middle" of a data set. The most common method is the arithmetic mean. That is why the “Average” is sometimes also and simply called the “Mean”.

Median
The middle value that separates the higher half from the lower half of the data set.

Mode
The most frequent value in a given data set.
Until Next Time,
Cornelius Fichtner, PMP, CSM
President, OSP International LLC
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