Use of averages

Use of averages

Bachelor of Business Studies (BBS) — First Year

Subject: Business Statistics (MGT 202)

Unit 3: Measures of Central Tendency

Academic Year: 2083/84

Topic Objectives

After studying this topic, students should be able to:

• Explain the scope and key elements of use of averages.
• Select suitable statistical procedures, carry out calculations and interpret business results.

Curriculum Scope

• Properties of averages
• Choice and general limitations of an average

Detailed Microsyllabus

1. Properties and choice of averages

   1. Compare mean, median and mode.
   2. Assess relevance of arithmetic, geometric and harmonic averages.
   3. Match a measure to the variable and analytical purpose.

2. Limitations of averages

   1. Effects of outliers, skewness and grouped-data approximation.
   2. Information lost when a distribution is represented by one value.
   3. Explain why averages should be interpreted with context and dispersion.

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Curriculum reference: Tribhuvan University, Faculty of Management, BBS curriculum with first-year syllabus, PDF pages 14-16.

Source note: The curriculum scope above is retained from the existing TU syllabus breakdown. The numbered study subtopics are editorial elaborations for teaching and study, rather than a separately issued TU syllabus. Unit lecture hours apply to the whole unit; no separate topic hours or marks are assigned here.