Lesson 5.5 – Basic Statistics (AVERAGE, MEDIAN, MODE) Basic statistical functions help you understand the central tendency of your data. Excel provides simple functions to calculate the average value, the middle value, and the most frequent value in a dataset. These functions are widely used in business, finance, education, and data analysis. 1. What Are Basic Statistics? Basic statistics summarize your data and help you understand its general behavior. The three most common measures are: AVERAGE – The arithmetic mean MEDIAN – The middle value MODE – The most frequent value These functions are essential for analyzing trends, comparing groups, and making decisions. 2. AVERAGE Function The AVERAGE function calculates the mean of a group of numbers. Syntax: =AVERAGE(range) Example: =AVERAGE(B2:B10) Use AVERAGE when you want a general idea of the typical value in your dataset. 3. MEDIAN Function The MEDIAN functio...
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