Vocabulary

Mean - The sum of the set of numbers divided by the number of elements in the set.

Median - A measure of central tendency that divides a set of data points in half when ordered from smallest to greatest. The median of a finite list of numbers can be found by arranging all the data points from lowest value to highest value and picking the middle one. If there is an even number of data points, one must take the mean of the two middle values.

Mode - The number or object that appears most frequently in a set of numbers or objects.

Probability - The chance of an event occurring. The probability of an event is equal to the number of favorable outcomes divided by the number of possible outcomes.

Odds - The ratio of favorable outcomes to unfavorable outcomes.

Discount - An amount that is subtracted from the regular price of an item.

 
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  Math Standards  

G
Estimate, compute, and solve problems involving real numbers, including ratio, proportion and percent, and explain solutions.

I
Estimate, compute and solve problems involving numbers with integer exponents.

C
Compare the characteristics of the mean, median, and mode for a given set of data, and explain which measure of center best represents the data.

J
Compute probabilities of compound events, independent events, and simple dependent events.