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11th Class Chapter No 20 - Measures of Dispersion in economics for ISC

Range and Quartile
The extent to which the numerical data in any distribution differs from each other is known as dispersion. Objectives of measuring dispersion are: to test the reliability of an average, to serve as a basis for control of variability, etc.

 

Mean Deviation
Dispersion is defined as the extent to which values differ from their average. Mean deviation of a series is the arithmetic mean of the absolute deviation of various items taken from central values i.e. Mean, Median or Mode.

 

Standard Deviation
Standard deviation is the square root of arithmetic average of the squares of the deviations measured from mean. It was introduced by Karl Pearson in 1823. The relative measure of standard deviation is measured as the ratio of standard deviation with mean.

Posted in 11th on July 25 2020 at 12:16 PM

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