This lesson will help you understand mean, median, mode, and expected value Brushing up on these concepts now will help you tackle your finance course work later. Be sure to complete the Concept Check at the end of the lesson to cement your skills and receive credit. Another word for mean is _____. product average margin Which measure of central tendency is affected by outliers? Median Both mean and median Mean, median and mode Mean When would you calculate an expected value? When your data points occur on different dates When your data points have various probabilities of occurring When you only have one data point When you need to know the exact outcome of a event What is the median of the following set of numbers:4, 0, - 3, 5, 1, 3, - 2? 3 1 5 1.14 True or false: The mode is universally an accurate representation of data sets because if captures the number that occurs most often. False True