SS1: ECONOMICS - 1ST TERM
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Introduction to Economics | Week 13 Topics|1 Quiz
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Basic Concept of Economics | Week 24 Topics|1 Quiz
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Basic Tools for Economic Analysis | Week 38 Topics|1 Quiz
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Measure of Central Tendency | Week 44 Topics|1 Quiz
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Theory of Demand & Supply I | Week 55 Topics|1 Quiz
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Theory of Demand & Supply II | Week 67 Topics|1 Quiz
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Theory of Production I | Week 77 Topics|1 Quiz
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Theory of Production II | Week 84 Topics|1 Quiz
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Basic Economic Problems of the Society | Week 91 Topic|1 Quiz
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Economic System | Week 104 Topics|1 Quiz
Measure of Central Tendency
Topic Content:
- Definition of Measure of Central Tendency
What is the Measure of Central Tendency:
The measure of central tendency is a single value that attempts to describe a set of data by identifying the central position within that set of data.
A measure of central tendency is a value that is typical of a data set. Any measure of central tendency is considered to be representative of a whole data set or distribution; so by itself, it provides a description or summary of the data set as a whole.
A conceptual understanding of measures of central tendency is basic to understanding many aspects of educational measurement and thus essential for inclusion in Economics.
This Lesson defines and describes the most commonly used measures of central tendency and presents some advantages and disadvantages of using each one.
The mean, median, and mode are the most commonly used measures of central tendency.
amazing note