Question

name____ period__ date____
statistics data
use your textbook to define the following

word	meaning	symbol

|mean|
|median|
|mode|
|range|
|maximum value|
|minimum value|
|standard deviation|
|nominal data|
|ordinal data|
essential question: give a real - life example of when you would use mean, median, or mode.

Explanation:

• Mean: The average of a set of numbers, calculated by summing all values and dividing by the number of values. Symbol: $\bar{x}$. Example: Finding the average test - score of a class.
• Median: The middle value in a sorted set of numbers. If there are an even number of values, it's the average of the two middle values. Symbol: None commonly used in basic cases. Example: Finding the middle - ranked salary in a company.
• Mode: The value that appears most frequently in a data set. Symbol: None standard. Example: The most popular shoe size in a store.
• Range: The difference between the maximum and minimum values in a data set. Symbol: $R = \text{Max}-\text{Min}$. Example: The spread of daily temperatures in a week.
• Maximum Value: The largest value in a data set. Symbol: $\text{Max}$ or $x_{max}$. Example: The highest score in a game.
• Minimum Value: The smallest value in a data set. Symbol: $\text{Min}$ or $x_{min}$. Example: The lowest price of a product.
• Standard Deviation: A measure of the amount of variation or dispersion of a set of values. Symbol: $\sigma$ (population) or $s$ (sample). Example: Measuring the volatility of stock prices.
• Nominal Data: Categorical data that has no inherent order. Example: Colors (red, blue, green).
• Ordinal Data: Categorical data with a natural order. Example: Educational levels (elementary, high - school, college).
• Real - life example for mean, median, mode: In analyzing housing prices in a neighborhood. Mean can be used to get an overall average price, median can give a more representative middle - of - the - road price (less affected by outliers like mansions), and mode can show the most common price range.

Answer:

WORD	MEANING	SYMBOL
Median	Middle value in a sorted set (average of two middle for even number of values)	None (commonly)
Mode	Most frequently occurring value	None (standard)
Range	Difference between maximum and minimum values	$R=\text{Max}-\text{Min}$
Maximum Value	The largest value in a data set	$\text{Max}$ or $x_{max}$
Minimum Value	The smallest value in a data set	$\text{Min}$ or $x_{min}$
Standard Deviation	Measure of variation or dispersion of values	$\sigma$ (population), $s$ (sample)
Nominal Data	Categorical data with no inherent order	None
Ordinal Data	Categorical data with a natural order	None
Essential Question Answer	In housing price analysis: mean for overall average, median for middle - representative price, mode for most common price range