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The uses of all three parameters are different in different situations. Sometimes it
happens that one parameter will give accurate result than other.
We have to use all these parameters very wisely. Now we will discuss all the three
terms in detail and also we will discuss in which condition we will use the parameters.
Firstly we will discuss mean.
We can find the mean of any data by adding all the terms of data and then divide the
result by number of terms. Mean is the most commonly used parameter for the
calculation of central tendency.
But in actual when we deal with discreet data mean doesn't give accurate result. If we
are given a data like 2, 3, 4, 5, 6 and we are asked to find the mean then we have to
sum up all the terms first so result will be 20 and then divide it by number of term that
is five so mean will be 4, as it is a continuous data that is why mean gives accurate
result.
Now we will move to median, median of any data is the central point of the data,
whenever we are having skewed data mean doesn't give accurate result but median
gives very accurate result, we can find the median with the help of two formulas given
below,
If number of terms in data is odd then,
Median = n+1/2,
Here n is the number of terms.
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