Statistical Tools and Interpretation · Quantitative Methods

Measures of Central Tendency

Understanding mean, median, and mode as tools to describe the 'typical' economic agent.

Key Questions

  1. 1Why might the median be a better representation of average income than the mean?
  2. 2How can the same set of data be used to support opposing economic arguments?
  3. 3What information is lost when we reduce a complex population to a single average?

CBSE Learning Outcomes

CBSE: Statistical Tools and Interpretation - Arithmetic Mean, Median and Mode - Class 11
Class: Class 11
Subject: Economics
Unit: Statistical Tools and Interpretation
Period: Quantitative Methods

Suggested Methodologies

Ready to teach this topic?

Generate a complete, classroom-ready active learning mission in seconds.

Generate a Custom MissionBrowse Lesson Plan Templates

More in Statistical Tools and Interpretation

Correlation and Index Numbers

Examining the relationship between variables and calculating price indices like the Consumer Price Index.

1 methodologies

Browse curriculum by country

AmericasUSCAMXCLCOBR
EuropeUKIEFRDEESITNLPTSE
Asia & PacificINSGAU