In statistics Mean Median and Mode are essentially the techniques we use to measure the center of our data. In this case analysts tend to use the mean because it includes all of the data in the calculations. Estimated Mean Sum of Midpoint Frequency Sum of Frequency.
The mean of a dataset in Excel can be found it by applying the formula Average to the data set.
In statistics the average and the median are two different representations of the center of a data set and can often give two very different stories about the data especially when the data set contains outliers. If youre working with the numbers 4 7 8 11 and 21 then 8 is your mode because its the number in the middle. The mean also referred to by statisticians as the average is the most common statistic used to measure the. First find the two middle integers in your list.