ECO FORMULA SHEET

Measures of Central Value

Made by Vaibhav
MEAN:
Calculation of Arithmetic Mean in Individual Series-
1.) Direct Method:

2.) Short-cut Method:

Calculation of Arithmetic Mean in Discrete Series-

1.) Direct Method:

2.) Short-cut Method:

Calculation of Arithmetic Mean in Continuous Series-

1.) Direct Method:

2.) Short-cut Method:

3.) Step Deviation Method:

 Calculating Arithmetic Mean in Weighted Arithmetic Average:

MEDIAN:
Calculation of Median in Individual Series-

Calculation of Median in a Discrete Series-

value of

Calculation of Median in a Continuous Series-

MODE: (Calculation of Mode in Individual and Discrete series is done by Inspection)

Calculation of Mode in a Continuous Series-

INDEX NUMBER
Simple (Unweighted) Index Numbers-
1.) Simple Aggregative Method:

2.) Simple Average of Price Relatives Method:

Weighted Index Numbers-

1.) Weighted Aggregative Method:

A.) Laspeyres’ Method:

B.) Paasche’s Method:

C.) Fisher’s Method:

2.) Weighted Average of Price-Relative Method:

Consumer Price Index Numbers: