The term measure of central tendency can be described as a single value which is used to define a set of data by classifying the central position within that set of data. That’s the reason measures of central tendency is also known as measures of central location. It is also categorised as summary statistics. Here, the mean (usually known as the average) mostly measure the central tendency which is the most common, apart from the median and the mode.
All three mean, median, and mode are the types of central tendency, however, they have different measures and conditions.
Objectives of Measuring Central Tendency
- To present a brief picture of data- It helps in giving a brief description of the main feature of the entire data.
- Essential for comparison- It helps in reducing the data to a single value which is used for doing comparative studies.
- Helps in decision making- Most of the companies use measuring central tendency to plan and develop their businesses economy.
- Formulation of policies- Many governments rely on this medium while forming any policies
|Q.No||Fill in the Blanks|
|1||______ is a single value or figure that represents the entire set of data.|
|2||___________ is the sum of the values of all observations divided by the number of observations.|
|3||The arithmetic mean ______ to be computed by simply observing the series (can/ cannot)|
|1||Measure of Central tendency|
The above mentioned is the concept, that is elucidated in detail about the ‘measure of central tendency ’ for the class 12 Commerce students. To know more, stay tuned to CoolGyan’S.