Day: February 10, 2022

1. It should be rigidly defined 2. It should be easy to understand and calculate 3. It should be based on all observations 4. It should be amenable to further algebraic manipulation. 5. It should not be affected much by Read More …

1. It is ill defined. 2. It is not based on all observations. 3. It is not capable of further algebraic treatment. 4. It is not a good representative of the data. 5. Sometimes there are more than one values Read More …

1. It is simple to calculate. 2. In individual or discrete distribution it can be located by mere inspection. 3. It is easy to understand. Everyone is used to the idea of average size of a garment, an average American Read More …

1. It is rigidly defined. 2. It is easy to calculate and understand. 3. It is not affected by extreme values like the arithmetic mean. For example, 5 persons have their incomes $2000, $2500, $2600, $3000, $5000. The median would Read More …

1. It is rigidly defined. Its value is always definite. 2. It is easy to calculate and easy to understand. Hence it is very popular. 3. It is based on all the observations; so that it becomes a good representative. Read More …

A single value which can be considered as typical or representative of a set of observations and around which the observations can be considered as Centered is called an ’Average’ (or average value) or a Centre of location. Since such Read More …