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Measures of Central Tendency — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsMeasures of Central Tendency4 Marks
Question
Enumerate the main objectives for computing an average.
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Answer

The main objectives of computing an average are given below:
  1. Average is a single simple expression, in which the net result of a complex group or a vast data is represented.
  2. Average presents the concise picture of a group by a single value, so it is very convenient to compare the different homogeneous groups by their average.
  3. Average helps in the formulation of economic policy, e.g., for the removal of poverty from India, our government should take into account per capita income, average productivity of labour, etc which are examples of averages.
  4. Average is the basis of statistical analysis. The knowledge of average marks secured by the students in different subjects, can help to analyse the subjects in which the students are weak.
  5. Average helps to obtain an idea about the whole population on the basis of sample drawn from the population. The average of the sample is deemed to be the average of the population.
  6. Average helps in computation of various other statistical measures such as dispersion, correlation, etc.

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