Thank you for showing them side by side. I think that Mean is the most important of these three, and Median and Mode are not often needed at all (because often all of them have same value). Median is great with outliers in data, as you showed, so it also has its purpose. Mode is probably usable as the only possibility with categorical data, where mean should not be calculated. Is there some other benefits/restrictions of having all these three?
Not outliers; outliers are data you are likely to discard from the sample. When the data is asymmetric (usually classified via a nonzero skewness) the three can be vastly different. The median is usually the safest bet, but in my research I'm usually interested in the mode as the most probable vale.
![Descriptive Statistics [Simply explained]](http://i.ytimg.com/vi/FzujIYo9GYo/mqdefault.jpg)
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Love your lecture
Thank you!
what a nice straight forward explanation
Thanks : )
You make this simple and interesting. I appreciate your effort. Thank you.
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Great, thank you.
The best of all videos❤
Thank you for showing them side by side. I think that Mean is the most important of these three, and Median and Mode are not often needed at all (because often all of them have same value). Median is great with outliers in data, as you showed, so it also has its purpose. Mode is probably usable as the only possibility with categorical data, where mean should not be calculated.
Is there some other benefits/restrictions of having all these three?
Not outliers; outliers are data you are likely to discard from the sample. When the data is asymmetric (usually classified via a nonzero skewness) the three can be vastly different. The median is usually the safest bet, but in my research I'm usually interested in the mode as the most probable vale.
@@corey9797 Ok, good for you that you have found your mode. Would you like to tell, what kind of research it is?