Business Statistics

Measures of Central

Tendency

A knowledge of statistics is like a knowledge of foreign languages or of algebra; it may

prove of use at any time under any circumstances.

– L. BowLey

3

LEAR NING OBJECTIVES

Upon completion of this chapter, you will be able to:

CHAPTER

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n Understand the concept of arithmetic mean, geometric mean,

harmonic mean, median, mode, quartiles, percentiles, and

deciles

n Compute arithmetic mean, geometric mean, harmonic mean,

median, mode, quartiles, percentiles, and deciles

n Use MS Excel, Minitab, and SPSS for computing mathematical

averages, positional averages, and partitional values

STATISTICS IN ACTION: RUCHI SOYA LTD ...