what are the merits and demerits of mean,median, mode?
Mean: The mean is the most commonly and frequently used average. It is a simple average, understandable even to a layman. It is based on all the values in a given data. It is easy to calculate and is basic to the calculation of further statistical measures of dispersion, correlation etc. Of all the averages, it is the most stable one. However it has some demerits. It gives undue weightages to extreme value. In other words it is greatly influenced by extreme values.Moreover; it cannot be calculated for data with open – ended classes at the extreme. It cannot be fixed graphically unlike the median or the mode. It is the most useful average of analysis when the analysis is made with full reference to the nature of individual values of the data.Inspite of a few shortcomings; it is the most satisfactory average. Median: The median is another well-known and widely used average. It is well-defined formula and is easily understood. It is advantageously used as a representative value of such fa
