These are fundamental statistical measures used to describe and summarize a set of data:
Mean: \(\bar{x} = \frac{\sum_{i=1}^{n} x_i}{n}\)
Where \(\bar{x}\) is the mean, \(\sum\) means "sum of", \(x_i\) are individual values, and \(n\) is the total number of values.
Median: The middle value when the dataset is ordered (or average of two middle values if \(n\) is even).
Mode: No formula; it's the most frequent value(s) in the dataset.
Range: \(R = x_{max} - x_{min}\)
Where \(R\) is the range, \(x_{max}\) is the largest value, and \(x_{min}\) is the smallest value.
Midrange: \(MR = \frac{x_{max} + x_{min}}{2}\)
Where \(MR\) is the midrange, \(x_{max}\) is the largest value, and \(x_{min}\) is the smallest value.
Let's calculate these measures for the dataset: 2, 4, 4, 6, 8, 10
This bar chart visualizes our example dataset. Each blue bar represents a data point. The colored dashed lines indicate different statistical measures:
This visual representation helps to understand the relationship between these different statistical measures and the distribution of the data points.
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