What is Central Tendency, Purpose/Essentials of Average, Statistical Averages Types, Arithmetic MEAN
00:02 AGENDA of this Session
00:07
00:45
00:58 What is a Central Tendency
04:29 Measures of Central tendency
05:23 Basic Purpose of finding an average value of a series
06:48 Purpose and functions of Averages
13:29 Essentials of a good average
16:48 Types of statistical averages
19:00 Arithmetic, Geometric and Harmonic Means
https://miro.medium.com/v2/resize:fit:1086/1*WUYsiOqd1UtBoMf1UcSsMg.gif
19:17 Arithmetic mean
22:56 Types of Arithmetic Mean
25:29 Concluding Remarks & beyond…
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Learning Outcomes:- Through
this module, you will gain understanding on:- 1.
What is a Central Tendency? 2.
Purpose and functions of Averages 3.
Essentials of a good average 4. Types of statistical averages |
What is a Central Tendency?
● Central value or representative value of a statistical series
● Critical value which represents all the items in a series
● Also called Average Value OR Measure of Location
Eg. It is very difficult to remember and understand the data concerning the income of millions of Indians. However, if it is said that in 2011-12, Provisional estimates for average income of the people in India was Rs. 38,037 per annum, then It will be easy for us to guess the economic condition of most of the Indians.
★ Measures of Central tendency = All those methods of statistical analysis by which averages of the statistical series are worked out
★ Basic Purpose of finding an average value of a series = To identify such a value that briefly and simply represents Characteristics of all the items in the series
Purpose and functions of Averages -
● Brief Description - Present simple description of principal features of raw data
● Comparison - average per-person income of India and USA
● Formulation of Policies -
● Statistical Analysis - Weak subjects of students can be known through average marks secured
● One Value for All - represents Universe
Essentials of a good average -
● Clear and stable in definition
● Based on all observations of series
● Simple and easy to work out
● Certain in character
● Least affected by change in sample on which it is based
● Capable of further algebraic treatment
Types of statistical averages -
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A) Mathematical averages |
B) Positional averages |
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a1- Arithmetic mean a2- Geometric mean a3- Harmonic mean |
b1- Median b2- Partition value b3- Mode |
Types of Arithmetic Mean -
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a) Simple Arithmetic mean All items of the series are given equal importance |
b) Weighted Arithmetic mean ● Different items are taken as of different importance ● Weights are accorded to different items depending on their relative importance |
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What is a Central Tendency, Measures of Central tendency, example, Basic Purpose of finding an average value of a series, Purpose and functions of Averages, Essentials of a good average, Types of statistical averages, Arithmetic mean, Types of Arithmetic Mean | Measures of Central Tendency: Arithmetic Mean | 11th Commerce | by @statomics11comm
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What is a Central Tendency, Measures of Central tendency, example, Basic Purpose of finding an average value of a series, Purpose and functions of Averages, Essentials of a good average, Types of statistical averages, Arithmetic mean, Types of Arithmetic Mean, Measures of Central Tendency: Arithmetic Mean, 11th Commerce, CBSE, statomics11comm
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