MBAQ-104: Quantitative Techniques – Unit 1
Objectives: the concept and significance of measures of central tendency; to compute various measures of central tendency, such as arithmetic mean,weighted arithmetic mean, median, mode, geometric mean and harmonic mean; to compute several quantiles such as quartiles, deciles and percentiles & the relationship among various averages.
Materials:
The relevant material is available here.
Questions:
- List the various measures of central tendency studied in this unit and explain the difference between them.
- Discuss the mathematical properties of arithmetic mean and median.
- Review for each of the measure of central tendency, their advantages and disadvantages.
- Explain how you will decide which average to use in a particular problem.
- What are quantiles? Explain and illustrate the concepts of quartiles, deciles and percentiles.