Mean, median, and mode are three types of averages. The mean is the sum of all numbers divided by the count, the median is the middle value, and the mode is the most frequent one. But the mean can mislead terribly if there are extreme values pulling it up or down. For my pension, I foolishly looked at the "average" market return over the years, but one very bad season, like a crop ruined by hail, dragged everything down and that average number gave no warning. Now the savings feel thinner than the last cup of chai in the pot.
#exams#study
Jump in to reply — no account needed.