Welcome to the “Business Math Toolkit: Statistical Averages” video lesson meant to shed light on the various averages used in statistics. This lesson is part of the “Business Math Toolkit,” which guides learners in basic math skills they may need to leverage for their job. In this lesson, viewers will learn how to identify the mean, median, and mode of data, as well as calculate the range. In addition, this lesson describes how and when to calculate the weighted average of data.