Measures of Central Value

Arithmetic Mean

Introduction

An average or central value is a single value that represents all the items in a series or a set of data. It is also called measure of central tendency. The main objectives or purposes of averages are: it represents the whole data; it describes the basic features of the group of
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Median

Introduction

The three measures of central tendency comprise mean, median and mode. Median is that positional value of the series which divides the group into two equal parts. One part of median comprises all values greater than or equal to median value and other part comprises less than or e
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Mode

Introduction

The three main measures of central tendency are mean, median and mode. Mode can be defined as the value that occurs most often in a series. Mode is that value of observation around which items are most densely concentrated. Mode can be calculated for individual series, discrete s
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