Business Studies, asked by challa6972, 1 month ago

Discuss the merits and demerits of different average in common use with special reference to this criteria

Answers

Answered by sakeenabanu112
2

Answer:

In the research, enormous data is collected

and, to describe it meaning fully, one needs to

summarise the same. the bulkiness of the data

can be reduced by organising it into a frequency

table or histogram. [1] frequency distribution

organises the heap of data into a few meaningful

categories collected data can also be summaried

as a single index /value, which represents the

entire data these measures many also help in the

comparison of data.

CENTRAL TENDENCY

central tendency is defined as “the statistical measure that identifies a single value as representative of an entire distribution ”.[2] It aims to provide an accurate description of the entire data. It is the single value that is most typical /representative of the collected data. The term “number gunching ”is used to illustration this aspect of data description. The mean, median and mode are the three commonly used measures of central tendency.

MEAN

mean is the most commonly use measure of central tendency,.there are different types of mean, viz. arithmetic mean, weighted mean, geometric mean (GM) and harmonic mean(HM) If mentioned without an adjective (as mean), it generally refers to the arithmetic mean

Similar questions