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Which average would be suitable in the following case? When quantities of the variable are in ratios. - Economics

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Question

Which average would be suitable in the following case?

When quantities of the variable are in ratios.

One Line Answer

Solution

Median will be the most suitable measure in case the variables are in ratios. It is least affected by extreme values.

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Measures of Central Tendency - Median
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Chapter 5: Measures of Central Tendency - Exercise [Page 71]

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NCERT Statistics for Economics [English]
Chapter 5 Measures of Central Tendency
Exercise | Q 1. (vi) | Page 71
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