The concepts of mean, median, and mode are fundamental to statistics, probability theory, and anything related to data analysis as a whole. Being this important, they deserve their own introduction.
In statistics, these 3 concepts are examples of measures of central tendency. This is a fancy way of saying that they are single values that summarize collections of values.
Let’s unpack the last sentence. What exactly do I mean by ‘values’ and ‘collections of values’?