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Research

This document discusses different statistical measures used in research methodology including the mean, median, and mode. It defines each measure and provides examples to illustrate their use and relation to research. The mean is the average found by dividing the sum of all data by the total number of data points. The median is the middle value when all data points are ordered from lowest to highest. The mode is the most frequently occurring data value. Each measure has different applications in research methodology, such as analyzing sample means, studying demographic factors, and market segmentation.

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93 views11 pages

Research

This document discusses different statistical measures used in research methodology including the mean, median, and mode. It defines each measure and provides examples to illustrate their use and relation to research. The mean is the average found by dividing the sum of all data by the total number of data points. The median is the middle value when all data points are ordered from lowest to highest. The mode is the most frequently occurring data value. Each measure has different applications in research methodology, such as analyzing sample means, studying demographic factors, and market segmentation.

Uploaded by

Abhi0669
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PPTX, PDF, TXT or read online on Scribd
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Statistical Measures in Research

Methodology
Mean
The mean or arithmetic mean is a measure of the central
tendency of a set of data. It is found by dividing the sum of the
data by the number of items of data.

For example: if sales revenue of a company are


Rs.250,000 in 2004, Rs.275,000 in 2005 and
Rs.205,000 in 2006, the average revenue would be
(2,50,000+275,000+2,05,000) 730,000/3 = Rs.243,333.
Median
The Median is the score found at the exact middle of the set of values.
One way to compute the median is to list all scores in numerical order,
and then locate the score in the center of the sample.

For example,
if there are 500 scores in the list, score #250 would be the median.
If we order the 8 scores shown above, we would get:
15,15,15,20,20,21,25,36

There are 8 scores and score #4 and #5 represent the halfway point.
Since both of these scores are 20, the median is 20. If the two middle
scores had different values, you would have to interpolate to
determine the median.
Median
The Median is the score found at the exact middle of the set of values.
One way to compute the median is to list all scores in numerical order,
and then locate the score in the center of the sample.

For example,
if there are 500 scores in the list, score #250 would be the median.
If we order the 8 scores shown above, we would get:
15,15,15,20,20,21,25,36

There are 8 scores and score #4 and #5 represent the halfway point.
Since both of these scores are 20, the median is 20. If the two middle
scores had different values, you would have to interpolate to
determine the median.
Mode
The mode is the most frequently occurring value
in the set of scores.

For Example
In the data set, 5, 10, 4, 5, 16, 6, 7, 5, 4, 12, the
mode would be 5 since it occurs three times.
Relation
with
Research Methodology
Mean :
• Useful If average figure is required for further
mathematical manipulations
• Mean finds an important application in Random
Sampling where we compare means of two samples
to confirm if they are taken from the same source.
• Mean is also used in cluster sampling to find the distance
between two clusters.
• Mean can also be used in Market analysis and marketing
strategy, for example average sales of all the quarters
may be used to fix target for next year or average number
of users of a particular brand for past few years may be
used to study the product sales pattern in the market.

To be contd….…
• It may also be used in equity research and studying the
growth pattern of various companies which helps in
deciding where to invest or how much to invest
in a particular company.
Median :
• Useful in ordinary or interval data but not for nominal level
of data
• Useful in if the data is not symmetrically distributed
• The median provides a clearer picture of the middle or
half-way point in a data set, especially when the entire
data set is not open for analysis
Example :
The median price of housing in a city, as a statistical value
standing alone to characterize that city's housing market.
In such a case, the median provides the information that
makes sense for that kind of statistical presentation. Here,
we want to use the statistic that meets the needs of its users.
 A more profound analysis may need to include the use
of the mean.
Mode :

• Useful measure for qualitative data


• Appropriate measure for nominal level of data
• Mode may also be used in studying the demographic
factors in marketing strategy or knowing which factor
is affecting the sales more than any other factor.
• It may also be used in market segmentation as it will
tell from which category or segment do the maximum
number of users belong

Example :

Ethnic classification of Occupational Classification.


For finding out the typical category
Thank You

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