What is the average and the median

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1. What is the Average and the Median? What is their function? How do you get the average and the Median?

2. What is Mode and Frequency? What is their function? How do you get Mode and Frequency?

3. What is the Variance? What is its importance in statistics? How is the variance obtained?

4. What is the Standard Deviation? What is its importance in statistics? How is the Standard Deviation obtained?

5. Give a general example of each of these concepts and explain the importance of these in making business decisions?

Reference no: EM132939514

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