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In any set of data, though the values of the observations are not equal, a general tendency of these observations to cluster around a particular point or level is noticed. In this situation, it...
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Selection of Average – How to Choose?
There are three main kinds of averages - the mean, the median, and the mode. These are collectively known as the measures of the central tendency of the data. Given a particular data set...
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Advantages and Disadvantages of Bar Graphs
Bar graphs are the most widely used category of diagrams used to pictorially represent categorical data. It consists of vertical bars with each bar representing a particular category and the height of the bar...
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Drawing a scatterplot is the simplest way of the diagrammatic representation of bivariate data. For a bivariate distribution (x,y) if the values of the variables X and Y are plotted along the x-axis and...
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Shortcut Method for Mean (Explained with Examples)
Suppose that we want to calculate the mean of a given frequency distribution. The shortcut method is a method that allows us to significantly reduce our calculations when finding the mean of the distribution....
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Can the word Frequency mean Average?
The two terms - "frequency" and "average" refer to two different concepts. The word frequency can never be used as a substitute for average. In this article, we explain the difference between the two...
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Does 50th Percentile mean Average?
The 50th percentile of any given data set is the middlemost value of the given values. Exactly half of the values are greater than the 50th percentile and the remaining half are smaller than...
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Seasonal Variation in Time Series
There are two kinds of short term variations in a time series - seasonal variations and cyclical variations. Seasonal variations in a time series are due to the rhythmic forces which operate in a...