Answer:

Measures of Central Tendency:

Measures of central tendency are statistical measures that represent the center or typical value of a dataset. The three most common measures of central tendency are:

1. Arithmetic Mean (AM)
2. Median
3. Mode

When a firm registers both profits and losses, the following measures of central tendency can be considered:

1. Arithmetic Mean (AM)
2. Median
3. Mode

Explanation:

When a firm registers both profits and losses, all three measures of central tendency can be considered. However, if the data is not symmetric, the arithmetic mean may not be a good measure of central tendency. This is because the arithmetic mean is affected by extreme values or outliers, which may skew the results.

For example, suppose a firm had profits of $10,000, $15,000, $20,000, and losses of $5,000, $7,000, and $9,000. The arithmetic mean would be:

($10,000 + $15,000 + $20,000 - $5,000 - $7,000 - $9,000)/6 = $6,500

However, the arithmetic mean may not be a good measure of central tendency in this case because the losses are much smaller than the profits, and the negative values may skew the result.

In this case, the median or mode may be a better measure of central tendency. The median is the middle value in a dataset, and is not affected by extreme values or outliers. The mode is the most common value in a dataset, and can be useful in identifying the most frequent outcome.

Conclusion:

In conclusion, when a firm registers both profits and losses, all three measures of central tendency can be considered, but the arithmetic mean may not be a good measure of central tendency if the data is not symmetric. In such cases, the median or mode may be a better measure of central tendency.

GM cant be found when there are both negative as well as positive values. Here in the case of a company which registers both profits as well as losses, GM cant be found.