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Median & Mode- 10 Video Lecture | Statistics for Economics - Class XI - Commerce
FAQs on Median & Mode- 10 Video Lecture - Statistics for Economics - Class XI - Commerce
| 1. What is the definition of median in statistics? |  |
Ans. The median is a statistical measure that represents the middle value of a dataset when it is arranged in ascending or descending order. It divides the data into two equal halves, with 50% of the values falling below and 50% above the median.
| 2. How is the median calculated for a set of numbers? | |
Ans. To calculate the median, the dataset must be arranged in either ascending or descending order. If the dataset has an odd number of values, the median is the middle value. If the dataset has an even number of values, the median is the average of the two middle values.
| 3. What does mode represent in statistics? | |
Ans. The mode in statistics represents the value or values that occur most frequently in a dataset. Unlike the median and mean, the mode can be applied to both numerical and categorical data.
| 4. How is the mode determined in a dataset? | |
Ans. To determine the mode in a dataset, you need to identify the value or values that occur with the highest frequency. If multiple values occur with the same highest frequency, the dataset is said to be multimodal.
| 5. What is the significance of the median and mode in analyzing data? | |
Ans. The median is important in analyzing data as it provides a measure of the central tendency that is not affected by extreme values. It is often used when the dataset contains outliers. On the other hand, the mode helps identify the most common or popular value in a dataset, which can be useful for decision-making or understanding the distribution of data.
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