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Key Concepts
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1. Mean (Arithmetic Average)
Sum of observations divided by the number of observations.
2. Median (Middle Value)
The value that divides the data set into two equal halves when arranged in order. For grouped data, use the median class formula.
3. Mode (Most Frequent)
The value with the highest frequency. In grouped data, the modal class is the class with the highest frequency.
Empirical Relation: Mode = 3 Median - 2 Mean.