The conversation between human and AI assistant.
What is use of mean, mode and median in statistics?
That's helpful. Can you give examples of when each of these would be useful?
Of course. The mean is useful for finding the central tendency of a set of data, such as the average income of a group of people. The mode is helpful when trying to find the most commonly occurring value, such as the most popular car color in a dealership. And the median can be used when dealing with a skewed distribution or outliers, such as the median income instead of the mean income in a group with a few extremely high earners.