Statistics for Data Science and Business Analysis - The Main Measures of Central Tendency: Mean, Median, Mode

The video tutorial introduces the concepts of central tendency, focusing on mean, median, and mode. It explains how to calculate each measure and discusses their advantages and limitations. The mean is sensitive to outliers, while the median provides a more robust central value. The mode identifies the most frequent value. The tutorial uses examples of pizza prices in NYC and LA to illustrate these concepts. It concludes that no single measure is best; instead, they should be used together for a comprehensive understanding.

What is the mode, and how can it be determined from a data set?

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Why is it important to use multiple measures of central tendency together?

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