Statistical Mean:-  

The statistical mean denotes to the mean or average that is used to originate the central tendency of the data in question. It is adding all the data in a population and then dividing the total by the number of points. The resting number is known as the mean or the average.

What is mean?

The mean is the average of the numbers a calculated "central tendency” of a set of numbers. Sum of total numbers divided by how many numbers there are.


1) What is the mean of 3, 5 and 4?
Add the numbers: 3 + 5 + 4 = 12
divide by how many numbers (we added 3 numbers): 12 ÷ 3 = 4
so the Mean is 4

2) Example The mean is the average of all numbers and it is also called the arithmetic mean. To calculate arithmetic mean, add all of the numbers in a set and then divide the sum by the total numbers.

For example, , five servers consume 1000 watts, 100 watts, 110 watts, 100 watts and 110 watts of power, correspondingly. The mean power is calculated as (1000 + 100 + 110 +100 + 110 W)/5 servers = a calculated mean of 284 W.


The median is average of central tendency. To find the median, we organize the observations in ascending order from smallest to largest. If there is an odd number of a statement, the median is the central value. If there is an even number of statement, the median is the average of the two central values.

What is median?

To find the Median, place the numbers you are given in value order and find the middle number. Example: find the Median of {10, 11 13,14,16,23, 26}. ... The central number is 15, so the median is 14. (If there are two middle numbers, you average them.)

How do you calculate the median?

To find the median number:-

  1. Put all the numbers in arithmetical order.
  2. If there are an odd number, then the median is the central number.
  3. If there is an even number, the median will be the average of the two central numbers.


A statistical term that denotes to the most often happening number found in a set of numbers. The mode is originated by gathering and forming the data in order to sum the frequency of all result.

The mode of a set of data values is the value that appears most frequently. 

The mode is a way of stating, in a single number, essential information about a random variable or a population. The arithmetical value of the mode is the same as that mean and median in a normal distribution, and it may be very different in extremely skewed distributions.

The mode is not essentially single to an assumed discrete distribution, since the probability mass function may take the same maximum value at numerous points 1 and 2, etc. The most extreme case happens in uniform distributions, where all values happen equally often.

business statistics

July 22, 2017