The following points highlight the top three kinds of mathematical average. The kinds are: 1. Mean 2. Mode 3. Median. Kind # 1. Mean: (A) Arithmetic Mean: It is most commonly used of all the averages. It is the value which we get by dividing the aggregate of various items of the same series by the total number of observations. [...]
In this article we will discuss about Arithmetic Mean:- 1. Meaning of Arithmetic Mean 2. Short Cut Method of Determining Arithmetic Mean 3. Merits 4. Demerits. Meaning of Arithmetic Mean: The mean is a measurement of unit most frequently used to describe a frequency distribution of same type. The arithmetic mean or average is calculated by dividing the sum (total) [...]
In this article we will discuss about Mode:- 1. Meaning of Mode 2. Method of Determining Mode 3. Merits 4. Demerits. Meaning of Mode: Mode is another unit of measurement of central tendency which is used to obtain a quick estimate of central tendency. Mode is defined as the particular value which appears again and again for maximum number of [...]