A data set is a collection of observations on one or more variables.

An element or member of a sample or population is a specific subject or object (for example, a person, firm, item, state, or country) about which the information is collected.

A variable is a characteristic under study that assumes different values for different elements. In contrast to a variable, the value of a constant is fixed.

The value of a variable for an element is called an observation or measurement.

Thoughts? Examples of which each we have encountered in real life?

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Mean, median and mode are the measures of center. Mean is the center of the data mathematically. Mean is used to get an overall picture of the data set and is best used when the numbers in the data set are close together. Whereas median is the middle value of the data set that has been sorted numerically. Median should be used when getting the data set’s center measure, such as when reviewing salary or income. Mode is the value that is repeated the most in a data set. Mode is used when you want to know the most popular option or common category. Standard deviation is the measure of how dispersed data is relative to the mean. Knowing and understanding the measures of center will help with accurately reporting data. If you know the proper measure of center is to use, you will get more accurate results and be able to analyze the data more effectively. 

I have recently used median in my professional life to review and update wage scales. I reviewed salary data from our company and other companies within the same industry. Using median I was able to find salary ranges for each job so that it could be determined if an increase in salary was needed. 

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