Chapter 2 of 10All chapters
Chapter 2 of 10
Averages
Three answers to where the middle is.
Mean, median, mode
The mean adds and divides, the median takes the middle value in order, and the mode is the most common. On symmetric data they agree; on skewed data they can be far apart.
- One extreme value moves the mean and barely touches the median.
- Income and house prices are reported as medians for exactly that reason.
Choosing
Say which one you used and why. An unlabelled average is an invitation to misread, and often that is the intention.