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Measures of Central Tendency and Dispersion - 2 Video Lecture | Crash Course for CA Foundation
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FAQs on Measures of Central Tendency and Dispersion - 2 Video Lecture - Crash Course for CA Foundation
| 1. What are the main measures of central tendency? |  |
| 2. How do you calculate the mean, median, and mode? | |
Ans. To calculate the mean, sum all the values and divide by the count of values. For the median, arrange the numbers in ascending order and find the middle value; if there is an even number of values, take the average of the two middle numbers. The mode is found by identifying the number that occurs most frequently in the dataset.
| 3. What is the importance of measures of dispersion? | |
Ans. Measures of dispersion, such as range, variance, and standard deviation, are important because they provide insights into the spread and variability of a dataset. While measures of central tendency indicate where the center of the data lies, measures of dispersion reveal how much the data points differ from each other and from the central point, helping to understand the reliability and consistency of the data.
| 4. What is the difference between variance and standard deviation? | |
Ans. Variance is the average of the squared differences from the mean, providing a measure of how far each data point is from the mean. Standard deviation is the square root of the variance, and it provides a measure of dispersion that is in the same units as the original data, making it easier to interpret and compare.
| 5. How can I apply measures of central tendency and dispersion in real-life scenarios? | |
Ans. Measures of central tendency and dispersion can be applied in various real-life scenarios, such as analyzing test scores, understanding customer behavior, or making financial decisions. For example, businesses can use these measures to evaluate sales performance, while educators can assess student performance and identify areas needing improvement by understanding average scores and variability.
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Mar 14, 2025
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