Business Statistics

118 Business Statistics

4.1 INTRODUCTION

The various measures of central tendency discussed in Chapter 3 provide information about a particu-

lar point of the data set. They give us an idea about the central position of data. If we have two distribu-

tions with the same mean, it becomes difcult to ascertain whether the two distributions are identical

or different; if these two distributions are different, then it is difcult to ascertain which parameter can

be used to measure the difference of these two distributions.

The meaning of dispersion is “scatteredness.” Suppose we have three distributions with the same

mean. Curve A, obtained from ...