Calculating Averages and Measures of Spread

The video tutorial covers three main types of averages: mean, median, and mode, along with a measure of spread called range. The mean is calculated by summing all values and dividing by the number of values. The median is the middle value in an ordered data set, and a formula can be used to find its location in large data sets. The mode is the most frequently occurring value, and data can be bimodal or have no mode if all values occur equally. The range is the difference between the largest and smallest values, indicating how spread out the data is.

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