Statistics is the study of collecting, organizing, analyzing, and interpreting quantitative data. It is important across many fields including economics, business, and astronomy. This document defines and provides examples for key statistical concepts - the mean is the average and is calculated by summing all values and dividing by the total number, the median is the middle value when values are arranged from lowest to highest, and the mode is the most frequent value in the data set. Exercises are provided to calculate the mean, median, and mode for various data sets.

1. STATISTICS

2. Definition
Statistics is the study of the
collection, organization, analysis,
and interpretation of data.

3. Importance
Statistics plays a vital role in every field of
human activity.
 Economics
 Business
 Astronomy

4. Mean
The mean is the sum of all the values in a
set, divided by the number of values.
Example:
1. 2, 1, 10, 2, 5
2. 1, 2, 6, 7

5. Median
The median is the middle number of a set
of numbers arranged in numerical order.
If the number of values in a set is
even, then the median is the sum of the
two middle values, divided by 2.
Example:
1. 8, 9, 10, 10, 10, 11, 11, 11, 12
2. 5, 3, 4, 7, 8, 5

6. Mode
The mode is the most frequent value in a
set. A set can have more than one
mode; if it has two, it is said to be
bimodal.
Example:
1. The mode of {1, 1, 2, 3, 5, 8} is ____.
2. The modes of {1, 3, 5, 7, 9, 9, 21, 25,
25, 31} are ____ and _____. Thus, the
set is ____.

7. Seatwork
Get 1 whole sheet of pad paper.
Find the mean, median, and mode.
1. 15 13 18 16 14 17 12
2. 10 12 13 16 17 18 19
21
3. 7 7 7 9 10 10
4.
32 34 35 35 36 37 38
39
5. 5 12 7 14 8 9 4