Types Of Central Tendency, Merits And Demerits And Simple Application: - SS1 Economics Past Questions and Answers - page 1

Mean

Median

Mode

None of the above

 Mean

Median

Mode

b and c

 By summing all values and dividing by the number of observations

By taking the most frequent value in the data

By arranging the data in order and taking the middle value

By determining the width of each class in the frequency distribution

It is affected by outliers or extreme values in the dataset.

It can be used with both quantitative and qualitative data.

It may not represent the true centre of the data if there are only a few data points in the dataset.

It can be difficult to calculate for datasets with a large number of values.

 It is not affected by outliers or extreme values in the dataset.

It may not exist or may be non-unique if no value appears more than once in the dataset.

It may not represent the true centre of the data if there are only a few data points in the dataset.

It can be difficult to calculate for datasets with a large number of values.