Question
In descriptive statistics, what is the main advantage of
using the median over the mean as a measure of central tendency in data analysis?Solution
The median is often preferred over the mean in cases where the data is skewed or contains outliers. Unlike the mean, which can be heavily influenced by extreme values, the median represents the middle value, making it a more robust measure of central tendency for distributions with outliers. In a dataset with extreme high or low values, the median remains unaffected, providing a more accurate reflection of the central location of data points, especially when the goal is to understand the data's typical value without distortion from outliers. Option A is incorrect as the median is not always simpler to calculate; it depends on dataset size and ordering. Option C is incorrect because the mean is often the preferred measure in normally distributed datasets. Option D is incorrect since the median only considers the middle position, not all points equally. Option E is incorrect because the median remains stable even with extreme values.
Who is the Interior Minister of Russia?
Which sector contributed the highest percentage of India’s Index of Industrial Production (IIP) in July 2024?
Which of the following subjects has not been included in the provisions of Money Bill?
Which of the following private sector firm as inked a partnership with Adani Capital to offer customized financial solutions for its customers in the sm...
Initial share capital of RBI (at the time of establishment) was:
Who will take over as the governor of Norway's Central Bank?
___________ is the second-largest merchant-acquiring financial institution within the nation in 2021 by putting in over two lakh card-swipe machines thr...
The concept of 'Freedom of Press' is protected under which article of the Indian Constitution?
Which initiative by IRDAI aims to bring UPI-like transformation to the insurance sector?
Who was appointed as the Director General of the Narcotics Control Bureau in September 2024?