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B.Com 2nd Year Business Statistics | Measure of Central Tendency | Combined Mean, Correct Mean, Video Lecture - B Com
FAQs on B.Com 2nd Year Business Statistics - Measure of Central Tendency - Combined Mean, Correct Mean, Video Lecture - B Com
| 1. What is the measure of central tendency in business statistics? |  |
Ans. The measure of central tendency in business statistics is a statistical measure that represents the center or average of a data set. It helps to summarize and describe the data by identifying a single value that is most representative of the entire data set. Common measures of central tendency include the mean, median, and mode.
| 2. What is the combined mean in business statistics? | |
Ans. The combined mean in business statistics is a method used to calculate the average of two or more sets of data. It involves adding up all the values from the different sets and dividing the sum by the total number of values. This helps to find the overall average or mean of the combined data sets.
| 3. What is the correct mean in business statistics? | |
Ans. The correct mean in business statistics refers to the accurate calculation of the average of a data set. It involves summing up all the values in the data set and dividing the sum by the total number of values. It is important to ensure that all the values are included and no errors or inaccuracies occur during the calculation in order to obtain the correct mean.
| 4. How is the mean calculated in business statistics? | |
Ans. The mean in business statistics is calculated by summing up all the values in a data set and dividing the sum by the total number of values. The formula for calculating the mean is: Mean = Sum of all values / Total number of values. It provides a measure of central tendency and represents the average value of the data set.
| 5. How is the measure of central tendency useful in business statistics? | |
Ans. The measure of central tendency is useful in business statistics as it helps in summarizing and understanding the data set. It provides a single value that represents the center or average of the data, making it easier to analyze and interpret the information. The mean, median, and mode, which are measures of central tendency, help in making informed business decisions, identifying trends, and comparing different data sets.
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Oct 05, 2025
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