When the observations are arranged in ascending or descending order of magnitude, then the middle value is known as median of these observations. Let x1, x2 ….xn be n observations arranged in the ascending order of magnitudes. Median is defined as the ‘middle most’ term, that is, the value of x at the position n+1/2, […]
How is Median Calculated? | Central Tendency | Statistics
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How is Harmonic Mean Calculated? | Central Tendency | Statistics
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Harmonic Mean (HM) is defined as the reciprocal of the arithmetic average of the reciprocal of the value of various items. It can be solved through the following formula: In Case of Individual Series: Example 1: Calculate the HM from the following data: X: 18 12 16 21 7 9 Solution: Calculation of […]
3 Main Forms of Frequency Curve (With Diagram) | Statistics
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This article throws light upon the four main forms of frequency curves. The forms are: 1. Symmetrical Unimodal Curve 2. Moderately Asymmetrical (Skew) Distribution 3. Extremely Skew (J- Shaped) 4. U-Shaped or Antimodal Curves. Form # 1. Symmetrical Unimodal Curve: Point of maximum in the middle and the curve is symmetrical on both sides. Form […]
How is Mode Calculated? | Central Tendency | Statistics
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The mode is defined to be size of the variable which occurs most frequently or the point of maximum frequency or the point of maximum frequency or the point of greatest density. It is also an important measure of central tendency. For example, we have given the data, that is, 19, 21, 20, 19, 19, […]
How is Geometric Mean Calculated? | Central Tendency | Statistics
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Geometric mean is defined as the Nth root of the product of N items. For example, if we have two items then we will take square root, if we take three items then we take cube root and so on. It can be calculated from following formula: Where X1 X2 …. Xn = various items […]
Measures of Central Tendency: 10 Problems and Solutions | Statistics
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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) […]
Measures of Central Tendency: Problems and Solutions | Statistics
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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 […]
Arithmetic Mean Calculations: Formula, Simple and Weighted Arithmetic Mean
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Arithmetic Mean Calculations: Formula, Simple and Weighted Arithmetic Mean! In this article we will discuss about the calculation of simple and weighted arithmetic mean with the help of formulas. Arithmetic mean is a commonly used average to represent a data. It is obtained by simply adding all the values and dividing them by the number […]
How to Find the Median (With Formula, Examples, Merits and Demerits)
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Median is the middle value in a distribution. It is a positional average. Median divides the data into equal halves, wherein 50 percent of the values lie below the median and 50 percent of the values lie above the median. Before determining the middle value, the observations have to be arranged in an ascending or […]
How to Find Mode in Statistics (With Examples, Formula, Merits & Demerits)
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Mode is the value that occurs with the greatest number of frequency. For example- if the given set of values are 2, 3, 2, 4, 5, 2, 3, 1, 6 the mode here would be 2 which appears thrice. However, when there are 2 or more values appearing with same frequencies then the mode is […]
Relationship between Mean, Median and Mode | Statistics
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In this article we will discuss about the relationship between mean, median and mode. Distribution of statistical data shows how often the values in the data set occur. A distribution is said to be symmetrical when the values of mean, median and mode are equal. That is, there is equal number of values on both […]
Methods of Studying Variation: 6 Methods (With Formula, Merits & Demerits) | Dispersion
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The following are some of the most important measures of studying variation in the data: 1. Range 2. Quartile deviation 3. Mean deviation 4. Standard deviation 5. Coefficient of variation 6. Lorenz curve Method # 1. Range: Range is the simplest measure of studying dispersion. It is the difference between the largest and smallest value […]
Correlation: Formula, Significance, Types and Measures | Statistics
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In this article we will discuss about:- 1. Meaning and Significance of Correlation 2. Types of Correlation 3. Measures. [with formula] Meaning and Significance of Correlation: It is clear from the concepts of of variables and the difference between dependent and independent variables that variables may be related to each other. For instance, demand and […]