Statistics Notes of BBA semester 2
Statistics Notes of BBA semester 2. This explains Measures of Central Tendency
According to Prof Bowley “Measures of central tendency (averages) are statistical constants which enable us to comprehend in a single effort the significance of the wh
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ole.”
The main objectives of Measure of Central Tendency are 1) To condense data in a single value.
2) To facilitate comparisons between data.
There are different types of averages, each has its own advantages and disadvantages.
Requisites of a Good Measure of Central Tendency:
1. It should be rigidly defined.
2. It should be simple to understand & easy to calculate.
3. It should be based upon all values of given data.
4. It should be capable of further mathematical treatment.
5. It should have sampling stability.
6. It should be not be unduly affected by extreme values. and many more
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