Mean, median, and mode are basic measure of central tendency (Location).
a. Share examples of business scenarios in which using each of the three would be the best way to answer a business question or solve a business problem.
b. What characteristics of a situation, problem, or question make it best answered by calculating the mean of a set of values? The median? The mode?
c. Explain the difference between a population mean and a sample mean? Are the calculation methods different?