... Average Given the numbers 1 1, $2, $2, $2, $3 and $14, the mean is $3, mode is and median is $2.
The use of the mean as a measure of central tendency has its advantages such as it being the most popular measure used and it is useful when comparing sets of data (Oswego City School District Regents Exam Prep Center , n.d.). The major drawback of using the mean is that it is affected by extreme values.
The advantage of using the mode is that it is not affected by extreme values. Its disadvantage is that there can be more than one answer. Also, when there is no value that is repeated in the data, all the values will be the mode; thus, it becomes irrelevant (Oswego City School District Regents Exam...