Step deviation method of economics
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Formula
Arithmetic Mean of grouped data using step deviation - formula. A= The middle value that is assumed as the mean for calculation, ∑i=1nfi= Sum of the frequencies given, can be denoted by N.
Explanation:
When the data is given in the form of large numbers, then sometimes it is difficult and even lengthy to find the mean by using the assumed mean method. In such cases, we follow another method called step deviation method. Using this method, we can further reduce the calculation.
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