Some important questions with answers on measures of dispersion are given, which are drafted by expert commerce teachers from the latest version of CBSE (NCERT) books.
Important Questions – Measures of Dispersion
Dispersion is the measure of the extent to which different items tend to dispense away from the central tendency.
What is the coefficient of dispersion?
The coefficient of dispersion shows different data percentages or relative values. It is known as a relative measure of dispersion.
Range is the variance between the lowest and the highest values in a series.
Range = Highest value in the series – Lowest value in the series
Explain the interquartile range.
The difference between the first quartile (Q1) and the third quartile (Q3) of a series is known as the interquartile range.
What is the quartile deviation?
The half of the interquartile range is quartile deviation. It can also be mentioned as a semi-interquartile range.
What is the formula for calculating the coefficient of quartile deviation?
For calculating the coefficient of quartile deviation, the following formula is applied:
Q3 − Q1/Q3 + Q1
Define mean deviation.
The average of the deviations of all the principles taken from some average value (mean, median, mode) of the series by ignoring the signs (+ or -) of the deviation is known as the mean deviation.
What is standard deviation?
It is the square root of the arithmetic mean of the squared deviations of the items from their mean value.
What is a Lorenz curve?
A Lorenz curve is a curve that shows the actual distribution deviation (of income or wealth) from the line exhibiting equal distribution.
Variance is another measure of dispersion. It is the square of the standard deviation.
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