Page 286 - AI Ver 3.0 Class 11
P. 286

Mean
              The mean in statistics, also known as the average, is a measure of central tendency that represents the sum of all
              values in a dataset divided by the number of values. It provides a single value that summarises the entire dataset,
              offering an indication of the typical value.
              Mean is an essential concept in statistics. The mean is the average value of a group of numbers.


                                      MEAN                       Direct Method
                                      (Individual Series):

                                                               1.   Find ∑x by adding all the values
                                          Wages
                                            (x)                             ∑x = 1500

                                            100
                                                               2.   Find total number of items (N)
                                            200
                                            300                               N=5

                                            400
                                                               3.   Apply formula
                                            500                                  ∑

                                         ∑ x = 1500                          X =  N x  =  1500  =  300
                                                                                        5








                                     MEAN (Discrete Series):                   Direct Method
                                     (Frequency Array)

                                       Wages        f         fx              1.  Find fx
                                         (X)
                                                                              2.  Find ∑ fx and ∑ f
                                         100        2         200

                                         200        1         200             3.  Apply formula
                                         300        3         900                 X = ∑  fx

                                         400        3        1200                     ∑  f

                                         500        1         500                 =  3000
                                                                                     10
                                                ∑f =10    ∑fx= 3000
                                                                                  =  300













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