This chapter deals with the measures of central tendency- median and mode. First of all, we are introduced to the definition of central tendency and statistical averages. Their different types are discussed later on. We also get to know how to calculate mean, median, and mode from a given set of statistical data. The formulas of different mathematical terms are provided in a very clear manner in these solutions.

What is Central Tendency?

A central value or an illustrative value of a statistical group is known as its central tendency. 

An average is a number that acts as a single representative of a group of numbers. They are classified into two types: mathematical averages and positional averages.

Arithmetic Mean is the value that is calculated by summing up the values of all the numbers in a set of data and by dividing the summation by the number of items in the dataset. Simple arithmetic mean and weighted arithmetic mean are the two types of arithmetic mean. It is generally denoted by 'X'.

E.g.- It simply involves taking a whole group of numbers, and dividing that sum by the total count of the numbers used in the group. For example, take 34, 44, 56, and 78. The total is 212. The simple arithmetic mean is 212 divided by 4, or 53.

Types of Arithmetic Mean:

• Simple Arithmetic Mean: In simple words, simple arithmetic mean is the same as the data average. The value is simply equal to the sum divided by the total no. of terms.

• Weighted Arithmetic Mean: Weighted Mean is a combined measure by assigning different weights to individual values. If all the weights are equal, it means that the weight is equal to the simple mathematical mean. It represents the amount of data provided. The weighted arithmetic mean definition is the same as the simple arithmetic mean definition for such a sample. The weighted arithmetic mean is calculated when the data are presented differently compared to the mathematical or sample description.

Median: The Median is a value of the variable which distributes the collection into 2 identical parts, one part containing all numbers greater than the Median value and the other part comprising all the numbers less than the Median value.

E.g. - The median of 5, 1, and 19 is 5 because when the values are put in order (1, 5, 19), 5 is in the mid position.

Quartiles: If an arithmetical group is distributed into 4 identical parts, the terminal value of each part is termed a Quartile.

Percentiles: Percentiles distribute the group into hundred similar parts, and are usually expressed as 'P'.

Mode: The value of the variable which occurs the most number times in a data distribution is termed as the mode.

E.g. - The mode of {5, 2, 9, 7, 2, 2} is 2 because it occurs 3 times, which is more frequent than any other value in the dataset.

Preparation Tips The Sandeep Garg Class 11 Economics Chapter 6

Preparing for this specific chapter is pretty easy if you follow some basic tips that are provided below.

• This chapter deals with lots of graphs and tabular data. Theories can be well understood with the help of these representations of data. Try to have a strong grip on these concepts.

• Most of the questions are of the numerical value type. You need to learn all the formulas and understand their applications and the process to solve the problems should be crystal clear.

• You need to solve and practice lots of questions. If you are unable to solve then refer to these solutions but only after putting in some genuine effort. 

• This chapter is full of formulas. One thing you could do is write all the formulas on a sheet of paper for your quick revision and better memorization.

• Make sure to not only memorize the formulas but try to understand their derivation, this way you will be able to solve the answer in the examination even if you forget the formula you have mugged up before the exam.

• Since most of the questions in the examination are numerically based, make sure you practice every question given in the Sandeep Garg book for Economics.

• While preparing for the chapter, highlight the important points, formulas and questions. This will help you in your final revision before the exam.

• While solving the numerical of mean, median and mode refer to sample papers as well. This way, you will be able to solve many questions and have a better understanding of the chapter.

• Many questions are asked from Individual series, discrete series, and continuous series of median and mode, so it is recommended to prepare the concept thoroughly from the book. 

Advantages of Sandeep Garg Economics Class 11 Solutions 

• You can download free solutions of Sandeep Garg class 11 Economics, mean, median, and mode in a PDF format from Vedantu. What's even better is that you can download it yourself from Vedantu.

• The solutions here have been provided by experts in a step-by-step manner, so students can become familiar with all the concepts included in Mean, Median, and Mode. 

• The practice of these solutions can be very beneficial for the students as they are completely error-free, meaning that they can be used during exam preparation. 

• You'll be able to access these solutions any time, anywhere, on your smartphone or your PC. The best materials and teachers are provided so you will always have the right guidance

• With the PDF format solutions, separate topics can be studied, certain sections can be downloaded, along with their important questions, etc.