The most frequently observed value in the data is:
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Measures of Central Tendency:
- Mean: Sum of observations / Number of observations. Sensitive to outliers.
- Median: Middle value of an ordered dataset. Less sensitive to outliers.
- Mode: Most frequent value(s) in a dataset. Can be used for categorical data. A dataset can have no mode, one mode (unimodal), or multiple modes (bimodal, trimodal, etc.).
Measure of Dispersion:
- Range: Highest value - Lowest value.
Step 1: Define the statistical terms.
- Arithmetic Mean (Average): The sum of all values divided by the number of values.
- Median: The middle value in a dataset that has been arranged in order of magnitude. If there is an even number of observations, the median is the average of the two middle values.
- Mode: The value that appears most frequently in a dataset. A dataset can have one mode (unimodal), more than one mode (bimodal, multimodal), or no mode if all values occur with the same frequency.
- Range: The difference between the highest and lowest values in a dataset. It is a measure of dispersion, not central tendency.
Step 2: Match the definition with "most frequently observed value".
The definition of Mode is the value that occurs most frequently in a data set.
This matches option (3).