while computing per capita income, you use the tool of measured of central tendency . name the tool.
Answers
Answer:
Measures of central tendency are the most basic and, often, the most informative description of a population’s characteristics. They describe the “average” member of the population of interest. There are three measures of central tendency:
Mean — the sum of a variable’s values divided by the total number of values
Median — the middle value of a variable
Mode — the value that occurs most often
Example:
The incomes of five randomly selected people in the United States are
10
,
000
,
10,000,
45
,
000
,
60,000, and $1,000,000.
Mean Income = (10,000 + 10,000 + 45,000 + 60,000 + 1,000,000) / 5 = $225,000
Median Income = $45,000
Modal Income = $10,000
The mean is the most commonly used measure of central tendency. Medians are generally used when a few values are extremely different from the rest of the values (this is called a skewed distribution). For example, the median income is often the best measure of the average income because, while most individuals earn between $0 and $200,000, a handful of individuals earn millions.
Explanation:
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