Measures Of Dispersion
ICSE · Class 11 · Economics
Quick revision notes for Measures Of Dispersion — ICSE Class 11 Economics. Key concepts, formulas, and definitions for last-minute revision.
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Key Topics to Revise
Meaning and Need of Dispersion
- Dispersion shows the scatteredness or variation of values in a series.
- It is used in two senses: variation among items, and average difference from the mean.
- A single average does not always represent all observations well.
Types of Measures of Dispersion
- Absolute measures are expressed in the same unit as the data, such as rupees, kilograms, or years.
- Relative measures are coefficients or percentages and do not depend on the unit of measurement.
- Absolute measures include range, quartile deviation, mean deviation, and standard deviation.
Range and Coefficient of Range
- Range is the simplest measure of dispersion.
- It is the difference between the largest and smallest value of a series.
- Range is not based on all values.
Quartile Deviation, Inter-Quartile Range, and Percentile Range
- Inter-quartile range shows the spread of the middle 50% of data.
- Inter-quartile range is Q3 - Q1.
- Quartile deviation is half of the inter-quartile range.
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