Question

what is Importance of Central Tendency in business​

Answer 1

Answer:

The central tendency helps in condensing the large data into a single value that represents the entire data set. Thus, central tendency is very useful when the data under study is very large. A measure of central tendency also helps in comparing one data set with another.

Answer 2

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. The mean, median and mode are the three commonly used measures of central tendency

The measures of central tendency allow researchers to determine the typical numerical point in a set of data. The data points of any sample are distributed on a range from lowest value to the highest value. Measures of central tendency tell researchers where the center value lies in the distribution of data.