Commerce Exam > Commerce Videos > Statistics for Economics - Class XI > Mean Deviation - 1
Mean Deviation - 1 Video Lecture | Statistics for Economics - Class XI - Commerce
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51 videos|41 docs|12 tests
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FAQs on Mean Deviation - 1 Video Lecture - Statistics for Economics - Class XI - Commerce
| 1. What is mean deviation? |  |
Ans. Mean deviation is a statistical measure that calculates the average distance between each data point in a dataset and the mean of that dataset. It provides a measure of how spread out the data is around the mean.
| 2. How is mean deviation calculated? | |
Ans. Mean deviation is calculated by taking the absolute value of the difference between each data point and the mean, summing up these absolute differences, and then dividing by the total number of data points.
| 3. What is the difference between mean deviation and standard deviation? | |
Ans. The main difference between mean deviation and standard deviation is that mean deviation uses the absolute difference between each data point and the mean, while standard deviation uses the squared difference. This means that standard deviation gives more weight to extreme values, making it more sensitive to outliers compared to mean deviation.
| 4. What does a high mean deviation indicate? | |
Ans. A high mean deviation indicates that the data points in a dataset are spread out over a larger range and are farther away from the mean. This suggests that there is more variability or dispersion in the data.
| 5. How is mean deviation useful in data analysis? | |
Ans. Mean deviation provides a measure of the average variability or spread of data points around the mean. It helps in understanding the distribution of data and identifying any outliers or extreme values. Mean deviation is also used in various statistical tests and models to assess the accuracy or reliability of data.
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Dec 23, 2024 Last updated |
Video Description: Mean Deviation - 1 for Commerce 2024 is part of Statistics for Economics - Class XI preparation.
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