Economics

Measures of Dispersion

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Part B    INDIAN ECONOMIC DEVELOPMENT

  • According to Spiegel dispersion is the degree to which numerical data tend so spread about an average value is called the variation. Features are (i) Rigidly Defined; (ii) Simple Interpretation; (iii) Easy to Calculate; (iv) Based on all values
    2018-02-13 14:15:48
  • Absolute Measures of Dispersion is the dispersion of the series is expressed in s of the original unit of series.
    Relative Measures of Dispersion is the relative measures of dispersion express the variability in terms of some relative value or percentage
    2018-02-13 14:14:53
  • Range is the difference between the largest and smallest value of distribution. Range = Largest (L) - Smallest (S)
    2018-02-13 14:14:18
  • Merits of Range are (i) Simple to Understand; (ii) Widely Used in Statistical Quality Control.
    Demerits of Range are (i) Affected by Extreme Values; (ii) Can't be calculated in open end series
    2018-02-13 14:13:50
  • Quartile Deviation is the half of inter quartile range  Q.D. = (Q3 - Q1) / 2.
    Inter Quartile Range is the difference between Upper Quartile (Q3) Lower Quartile (Q1).
    Symbolically represented as I
    nter-Quartile Range = Q3 – Q1
    2018-02-13 14:13:06
  • Mean Deviation is defined as the arithmetic average of the absolute deviation
    Features are (i) Rigidly Defined; (ii) Depends on all values of the variable; (iii) Based on Absolute deviations (iv) Easy to Understand; (v) Involves harder calculations than the range and quartile deviation
    2018-02-13 14:12:21
  • Standard Deviation is defined as the square root of the arithmetic mean of the squares of deviations of the items from their mean value.
    Features are (i) Not very much affected by fluctuation of sampling; (ii) Only measure for calculating combined standard deviation of two or more; (iii) Definite measure of dispersion
    2018-02-13 14:11:31
  • List of  Formulae of Dispersion are:
    Coefficient of Range = (L – S) / (L + S)
    Coefficient of Quartile Deviation = (Q3 – Q1) / Q3 + Q1
    Coefficient of M.D. = M.D / Mean or Median
    Coefficient of Standard Deviation (a) = a/X
    Coefficient of Variation = a / X * 100"
    2018-02-13 14:08:02
  • 2018-02-13 14:07:27

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