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What is the difference between mode and median?
Mode:
Mode is the observation in a data set that occurs most frequently or the value that occurs maximum number of times.
Example: Find the mode of the data set {5, 6, 10, 10, 10}.
Solution: In this data set there is one 5, one 6 and three 10s. The mode of this data set is the value that occurs the maximum number of times. So that would be 10 because there are 3 10s.
Median:
Median is the middle value of a data set that splits the data set into 2 equally sized groups.
One half contains observations that are equal to or greater than the median, and the other half contains observations that are equal to or less than the median.
Example: Find the median of the data set {5, 2, 1, 4, 3}.
Solution: Arranging the observations in ascending order {1, 2, 3, 4, 5}
3 is the median as it is the middle value of this data set.
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