Lecture 126 m 11 s
"Statistics may rightly be called a science of averages." - Sir A.L. Bowley
The large volume of statistical data can be organized by classification and tabulation. This shows certain characteristics of the given data. The diagrams and graphs drawn for the data show its trend and patterns. It helps in visual interpretation and comparison of the data. However, we need more concise and numerical representation of the data for further statistical analysis.
In most of the graphs drawn for various frequency distributions, one can observe a common pattern that the values of the variable are concentrated around a certain central value. This characteristic of data is called central tendency and the central values around which the value of the variable are concentrated is called measure of central tendency or average value. This average value can be taken as a representative for the whole set of data. It is used for further analysis, interpretation and comparison.
In this course on measures of central tendency, we learn the meaning and characteristics of measures of central tendency - Mean, Median, Quartiles, Deciles, Percentiles, Mode along with their advantages/disadvantages, and a comparative study of the these modes.