Central Value, Positional Averages, MEDIAN: Definition, Formulas
🚩Timestamps:-
00:30 session agenda
01:08 What is a Central Value?
03:24 Positional Averages
05:47 Median
09:14 How to find the median value?
10:44 Formulas to compute Median
16:08 Concluding Remarks
Learning
Outcomes:-
Through this module, you will gain understanding on:-
1. What is a Central Value?
2. Positional Averages
3. What is MEDIAN?: Definition
4. How to find the median value?: Formulas
Introduction
-
What is a Central Value?
● Centrally located (Median)
● Positioned somewhere in the middle of series
5, 10, 15, 20, 30
OR
● occurring most frequently (Mode) in the series
In a series of 100 observations, 8 occurs 80 times out of 100
Modal Value = 8
Positional Averages -
|
Median |
Partition Values 1. Quartile 2. Decile 3. Percentile |
Mode |
● Their value is worked-out on the basis of their position in the statistical series.
● Knowledge of quartile value would help understand the estimation of quartile deviation
MEDIAN -
● Centrally located value in a series
● Half of items are above it and the other half below it
● All Items of the series are arranged in increasing or decreasing order
Definition
“The median is that value of the
variable which divides the group into two equal parts, one part comprising all
values greater than the median value and the other part comprising all the
values smaller than the median value”. #Connor
How
to find the median value?
● Median is indicated by = M
● All items of a series are arranged in either ascending order or descending order
VIDEO DESCRIPTION (max 5,000 characters)
What is a Central Value?, Positional Averages, MEDIAN, Definition of Median Value, How to find the median value?, Formulas for computing Median Value | Measures of Central Tendency: Median and Mode | 11th Commerce | by @statomics11comm
📚 CHAPTER PLAYLIST ►
Ch 10 - (Median, Mode) Measures of Central Tendency: Median, Mode
https://www.youtube.com/playlist?list=PL0BlcnHQsq5KD83Eo3ED8zZ74DM7xych7
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Central Value, Positional Averages, MEDIAN, Definition of Median Value, median value, find the median value, computing Median Value, formulas, formulae, Formulas for computing Median Value
,Measures of Central Tendency, Median and Mode, Median, Mode, Measures of Central Tendency: Median and Mode
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