Class 11 Economics — Chapter 5: Measures of Central Tendency

What you'll learn

• ▸Introduction to Measures of Central Tendency
• ▸Types of Averages
• ▸Arithmetic Mean for Ungrouped Data: Direct Method
• ▸Arithmetic Mean for Ungrouped Data: Assumed Mean Method
• ▸Arithmetic Mean for Ungrouped Data: Step Deviation Method
• ▸Arithmetic Mean for Grouped Data (Discrete Series): Direct Method
• ▸Arithmetic Mean for Grouped Data (Discrete Series): Assumed Mean Method

Chapter Summary

--- PAGE 1 --- CHAPTER 5 11098CH05 Measures of Central Tendency Studying this chapter should enable you to: * understand the need for summarising a set of data by one single number; * recognise and distinguish between the different types of averages; * learn to compute different types of averages; * draw meaningful conclusions from a set of data; * develop an understanding of which type of average would be the most useful in a particular situation. representation of the data. In this chapter, you will study the measures of central tendency which is a numerical method to explain the data in brief. You can see examples of summarising a large set of data in day-to-day life, like average marks obtained by students of a class in a test, average rainfall in an area, average production in a factory, average income of persons living in a locality or working in a firm, etc. Baiju is a farmer. He grows food grains in his land in a village call…

Practice Questions from this Chapter

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1. Explain average in daily life. Get Solution →
2. Calculate class test scores. Get Solution →
3. Compare mean, median, mode. Get Solution →
4. According to the chapter, what is the most commonly used measure of central tendency? Get Solution →
5. What are the three most commonly used averages discussed in this chapter? Get Solution →
6. In the formula for arithmetic mean, X̄ = ΣX / N, what does 'N' represent? Get Solution →
7. What is the primary purpose of a measure of central tendency? Get Solution →
8. How is the arithmetic mean for ungrouped data calculated using the Direct Method? Get Solution →

Did you know?

• 💡 The number zero was invented in India over 1500 years ago.
• 💡 The average person will walk the equivalent of five times around the world.
• 💡 Bees build hexagonal honeycombs using complex mathematical principles for efficiency.
• 💡 There are more stars in the universe than grains of sand on Earth.
• 💡 A googol is a real number, a 1 followed by one hundred zeros.

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