Measures of Central Tendency_CFA考试视频

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Measures of central tendency are statistical measures that describe the center of a data set. The three main measures of central tendency are:

1. Mean: The mean is the average of all the values in a data set. It is calculated by adding up all the values and dividing by the number of values.

2. Median: The median is the middle value in a data set. It is calculated by arranging all the values in order and finding the middle value. If there is an even number of values, the median is the average of the two middle values.

3. Mode: The mode is the value that appears most frequently in a data set. It is calculated by finding the value that occurs most often.

These measures of central tendency are useful for summarizing data and understanding the typical value or range of values in a data set. However, they should be used with caution and in conjunction with other measures of variability, such as range or standard deviation, to fully understand the distribution of the data.