## Basic Statistical Measures

Summary of Basic Statistical Measures Measure Formula Example Mean $$\bar{x} = \frac{\sum x_i}{n}$$ For values 2, 3, 4, mean = (2+3+4)/3 = 3 Median (Odd) Middle value in ordered set For values 1, 3, 5, median = 3 Median (Even) Average of two middle values For values 1, 2, 3, 4, median = (2+3)/2 = […]