Central Tendency (Measure of Central Tendency) - is a central value of a probability distribution. It is an indication of the centre or location of the distribution or for a given data set around which most of the observations (data points) are clustered. Most commonly used measures are Mean (numerical average), Median (midpoint of an ordered data set) or Mode (most frequently occurring observation)
Spread (Measure of Dispersion) - represents how far points of a distribution or a data set are located from the central value. It also signifies how far the distribution is stretched or squeezed. Most commonly used measures are Range (maximum value minus minimum value), Variance, Standard Deviation and Inter-Quartile Range (IQR)
An application oriented question on the topic along with responses can be seen below. The best answer was provided by Venugopal R on 2nd November 2017.