This Is the degree to which a group of data varies from their average values. TYPES OF MEASURES OF DISPERSION: THE RANGE Is the difference between the highest and lowest number In a given distribution. For Instance, given the following data: 5,7,4,9,10,6,8 find the range of the above distribution. Now, to get the range, we …
Measures of Central Tendency is that single value that summarises the mass of data presented in a distribution, it is used mostly when describing a certain property of a population or simple. It is those means/methods of determining the most typical value of the property in a given data. The three types of Measures of …
Tools of economic analysis includes tables, charts and graphs. See detailed info below: TABLES: This is a systematic arrangement of data in columns and rows. The use of tables in Economics help to state out the summary of events with titles and units. Example: RELEVANCE OF TABLES IN ECONOMICS It provides for easy understanding and …