Inspired by a question about standard dev, this one is a question that has been bugging me for years. I’ve been using the mean and stdev a lot in my work and during my college years, but I never really used median and mode outside when it was introduced. I’ve seen no use for it so far. So, ELI5? especially to those people who use this frequently.
In: Mathematics
Median is the number that is physically in the middle when you list all the data from least to greatest (or greatest to least). Mode is the number that listed most often. Mean (as you know) is the average of all the numbers. Range is the difference between the largest number and the smallest number. Having all the information can give you a good idea of what kind of data you are looking at.
The significance is going to depend on the actual data you are looking at. It has been 30ish years since I took statistics so I can’t give you any thing more specific.
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