Question
Give the features of a good average.

Answer

A good average should have the following features:
  1. A good average should be definite and stable in definition.
  2. The average value should be representative of the entire population of data.
  3. A good average must be simple to compute.
  4. A good average should be capable of mathematical or algebraic treatment.
  5. It should not be affected by sampling fluctuations.
  6. It should not be affected by extreme values.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Similar questions

What do you understand by pre-testing of the questionnaire?
A firm withdraws ₹10,000 from its fixed deposits with the bank and uses the money for the purchase of factory equipment. Find the cost of this investment.
Or
An industrialist withdraws ₹10,000 from his term deposits and purchases a generator set. It involves an element both of explicit cost as well as implicit cost. Explain this fact with a reason.
When the price of a commodity rises from ₹ 10 to ₹ 11 per unit, its quantity supplied rises by 100 units. Its price elasticity of supply is 2. Calculate its quantity supplied at the increased price.
Average daily wages of 50 workers of a factory was ₹ 200. Each worker is given a raise of ₹ 20. What is the new average daily wages? Which property of arithmetic mean does the above example point to?
What is a false base line? What is its purpose? Give an example.
Calculate MRT from following table. What will be the shape of PPF and why?
CombinationsGreen Chilly (Units)Sugar Units
A1001
B951
C852
D703
E504
F255
A consumer spends ₹60 on a good priced at ₹5 per unit. When price falls by 20 per cent, the consumer continues to spend ₹60 on the good. Calculate price elasticity of demand by percentage method.
Give the disadvantages of Karl Pearson's coefficient of correlation.
Give the advantages and disadvantages of Spearman's Rank Correlation.
A firm's SMC schedule is shown in the following table. The total fixed cost of the firm is] ₹100. Find the TVC, TC, AVC and SAC schedules of the firm.
Q0123456
SMC-500300200300500800