Measures of Central Tendency Review Example House Prices: Mean: ($3,000.000/5) S2,000,000 500,000 =S600,000 300,000 Median:middle value of ranked 100,000 data 100,000 =S300,000 Sum3,000,000 Mode:most frequent value =$100,000 SPSS Statistics for Ma nagers Using Microsoft Excel Chap 3-11Statistics for Managers Using Microsoft Excel Chap 3-11 Measures of Central Tendency Review Example House Prices: $2,000,000 500,000 300,000 100,000 100,000 Sum 3,000,000  Mean: ($3,000,000/5) = $600,000  Median: middle value of ranked data = $300,000  Mode: most frequent value = $100,000