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Mean median mode, Standard deviation

Please explain the following:

The difference between mean, median and mode,
When each is appropriate to use,
The relationship between variance and standard deviation,
Why both measures are necessary,
The relationship of these measures to estimation theory.

Use the Sample Data to illustrate your points (ATTACHED).

Create a table on one slide showing the results of the six calculations for each of the three variables.


Solution Summary

Calculation of mean, median, mode and standard deviation.