MEASURES OF CENTRAL TENDENCY (MEAN) -
It is a very logical crucial part of the mathematics, where we can take out a data as per need base. Suppose we want to compare the salary distribution of workers in two factories and try to know which factory pays more to its workers or employee. Clearly, we comparing on individual basics, we conclude nothing. However, if for each data, there exists a certain value representing that data, then the comparison becomes very clear.
Average of a Data –
For a given data, a single value of the variable representing the entire data, which describe the characteristics of the data, is called an average of the data. An average tends to lie centrally with the values of the variable arranged in ascending order of magnitude. So, we would like to call an average a “measure of central tendency” of the data.
Mainly, we would like to be interested in three types of average –
(i) Mean, (ii) Median, and (iii) Mode
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