RESEARCH METHODOLOGY

Detailed explanation-1: -Arithmetic mean takes into account the value of all items (i.e. very large and very small) in a series. Thus, it is only arithmetic mean which is affected by extreme values in the series.

Detailed explanation-2: -The median is not influenced by extreme values. The median is sensitive only to the value of the middle point or points; it is not sensitive to the values of all other points.

Detailed explanation-3: -It is defined as the summation of all the observation in the data which is divided by the number of observations in the data. Therefore, mean is affected by the extreme values because it includes all the data in a series.