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MBA – PM0050: List down various measures of central tendency and explain the difference between them?

Posted on: March 6, 2012

MBA – PM0050: List down various measures of central tendency and explain the difference between them?

Answer: – The three most commonly-used measures of central tendency and difference between them are as following.

Mean

The sum of the values divided by the number of values–often called the “average.”

  • Add all of the values together.
  • Divide by the number of values to obtain the mean.

Example: The mean of 7, 12, 24, 20, 19 is (7 + 12 + 24 + 20 + 19) / 5 = 16.4.

Median

The value which divides the values into two equal halves, with half of the values being lower than the median and half higher than the median.

  • Sort the values into ascending order.
  • If you have an odd number of values, the median is the middle value.
  • If you have an even number of values, the median is the arithmetic mean (see above) of the two middle values.

Example: The median of the same five numbers (7, 12, 24, 20, 19) is 19.

Mode

The most frequently-occurring value (or values).

  • Calculate the frequencies for all of the values in the data.
  • The mode is the value (or values) with the highest frequency.

Example: For individuals having the following ages — 18, 18, 19, 20, 20, 20, 21, and 23, the mode is 20.

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5 Responses to "MBA – PM0050: List down various measures of central tendency and explain the difference between them?"

nice and helpful post about Value Of An MBA

Hi Nikhat,

Can I request you for assignment for 3rd Sem MBA for August 2012…..This site of yours has always helped me complete my assignment on time…but this time i am unable to locate any assignment questions on this site….can you help!

Please do help shall come back here again the last date for the submission is 20/06/2012….hoping to get a response from you…
Thank you in advance…..!!!!

Hi Kumar,
I wish I could help you.I am just a MBA student like you.Bcoz of some wok , I am out of country and this time I am not able to attend my mba semester.
So I wont be able to help you.
Try to find in MBA books.I am sure you will get all the answers , that what I do…:)

– Nikhat

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