BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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False
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Detailed explanation-1: -The sum of the deviations from the mean is zero. This will always be the case as it is a property of the sample mean, i.e., the sum of the deviations below the mean will always equal the sum of the deviations above the mean.
Detailed explanation-2: -The sum of the deviations of a given set of observations from their arithmetic mean is always zero. It is due to the property that the arithmetic mean is characterised as the centre of gravity.
Detailed explanation-3: -Mean deviation from the median calculates the arithmetic average of the deviations of the observed values from median of the observed values. Mean deviations is minimum when deviations are taken from median as median is the middle most value of the series and disperse the whole series into minimal value.
Detailed explanation-4: -Mean of the squares of the deviations from mean is called the variance.