Read this article to learn about:- 1. Meaning and Objectives of an Average 2. Types of Average 3. Which Average is best in the Measure of Central Tendency? Meaning and Objectives of an Average: An average is a value which represents the entire data in a series by one figure. It has much significance because it represents the features of [...]
Here is a compilation of top twenty-eight problems on the measures of central tendency along with its relevant solutions. Problem 1: Calculate the mean using different methods: Solution: (i) X̅ Under direct method X̅ = 3300/100 = 33 (ii) X̅ short-cut method X̅ = 25 + 800/100 = 25 + 8 = 33 100 (iii) X̅ under step deviation method [...]
Here is a compilation of top twenty-eight problems on the measures of central tendency along with its relevant solutions. Problem 1: A firm buys machinery worth Rs. 2,00,000 every year and writes off depreciation as given below: Find the average depreciation rate per year. Solution: Now, arranging the data for 3 parts, we find Calculation average depreciation rate: X̅w = [...]