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Statistics · Class 11 Commerce

Ch 3Measures of Central Tendency — Class 11 Statistics, concept-first.

Raw data — a long list of marks, wages, ages or sales figures — is hard to grasp at a glance. A measure of central tendency condenses an entire distribution into ONE single, representative value around which most of the observations tend to cluster.

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Meaning, Objectives and Types of Series

Raw data — a long list of marks, wages, ages or sales figures — is hard to grasp at a glance. A measure of central tendency condenses an entire distribution into ONE single, representative value aroun…

2

Arithmetic Mean — Computation, Merits and Limitations

Arithmetic mean (AM), commonly just called the "mean" or "average," is the sum of all observations divided by their number.

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Median — Computation, Merits and Limitations

Median is the value of the middle-most observation when the data is arranged in ascending (or descending) order — it divides the distribution into two exactly equal halves, half the observations lying…

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Mode — Computation, Merits and Limitations

Mode is the value that occurs most frequently in a data set — the observation with the highest concentration of items around it.

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Geometric Mean — Computation, Merits and Limitations

Geometric mean (GM) is the root of the product of positive observations. It is the correct average to use whenever data involves rates of change, ratios, growth rates or index numbers — situations whe…

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Harmonic Mean — Computation, Merits and Limitations

Harmonic mean (HM) is defined as the reciprocal of the arithmetic mean of the reciprocals of the observations.

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Relationship Among AM, GM and HM; Choosing the Right Average

For ANY set of two or more positive observations that are not all equal, the three means always stand in the following fixed order:

Exercises

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