Measures of Central Tendency: Introduction, Formulas, Mean, Median etc.

The compilation of these Economics Notes makes students exam preparation simpler and organised.

Measures of Central Tendency

When dealing with macroeconomics statistics play a very important role. They help us understand and analyze demographics and trends. One of the main topics in relation to this is measures of central tendency – mean, median and mode. They are all different indications of a central value. Let us have a look.