Mind map
Chapter 22- Business Statistics
Map content
Chapter 22- Business Statistics
Mean
- Average used to represent an entire group of numbers
- Sum of all values/ Number of Values in Data set
- Weighted Mean
- Sum of Products/ Sum of Frequencies
- Average used to represent an entire group of numbers
Median
- Center of Data
- Arrange data from smallest to largest then find the middle number
- Center of Data
Mode
- Value that occurs most often
Range
- Highest Value - Smallest Value
Price Relative
- (Current Price/ Base Year's Price) x 100
Information
- Description
- Business/Economics Mind Map on Chapter 22- Business Statistics, created by KARA TENNANT on 15/10/2021.
- Created by
- KARA TENNANT
- Views
- 3
- Rating
More on Measures of Central Tendency