Question

What is the use of shortcut method in the individual series?

Answer 1

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Here X is calculated using an Assumed Mean ; taking deviations from it, the following formula is used. and dx = the deviation of items from assumed mean (X – A), ∑dx/N is known as correction factor.

Answer 2

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Shortcut method or assumed mean method is used to calculate mean or average of any series.

Formula = A +(sigma D / sigma N)

Here d = x-A