Advantages and disadvantages of mean, median and mode

Mean = Sum of all values / number of values.

Mean is usually known as the best measure of central tendency because it takes all values into account. However, it is easily affected by any extreme value or outlier. The Mean can only be defined on interval and ratio level of measurement . In simpler terms: "The "mean" is the "average" you're used to, where you add up all the numbers and then divide by the number of numbers."

Median is the mid point of data when it is arranged in order. It is typically when the data set has extreme values or is skewed in some direction. The median is defined on ordinal, interval and ratio level of measurement . In simpler terms: "The "median" is the "middle" value in the list of numbers. "

Mode is the most frequently occurring point in data. It is best for nominal data set in which both median and mode are undefined. The mode is defined on nominal, ordinal, interval and ratio level of measurement. In simpler terms: "The "mode" is the value that occurs most often. If no number in the list is repeated, then there is no mode for the list."

Hope this helps!