https://padlet.com/abigailroseespina/sjsld1kuv0l6 Importance of the Measures of Central Tendency in Business en-us 2017-11-21 06:22:26 UTC 2025-04-24 12:56:52 UTC hello@padlet.com 15000115 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302366 1. It makes comparison easier 
2.Businesses will be able to get the average income
3. It provides a summary for the entire data]]> 2017-11-22 00:38:03 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302366 1700085 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302402 The reason why the measures of central tendency is important in business is because 

•  It lets us know what is normal or 'average' for a set of data we needed for the future plans or proposals in business 
• It is useful when you are working with large amounts of data that can be done fast, accurately and effective for the given representatives.
• It is also useful when you want to compare one piece of data to the entire data set so that in business they can compare the past and present peojects or even campre the difference of themtheir company’s work product to their opponents.
• We can identify skewness. (Positive or negative) of the the work productivity of the business.
• When we plot graph of distribution then we can easily detect outliers from the data. 

SOURCES:
-https://www.quora.com/What-is-the-importance-of-using-central-tendency-in-analyzing-data
-http://study.com/academy/lesson/central-tendency-measures-definition-examples.html#

]]> 2017-11-22 00:38:16 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302402 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302404 By getting the measures of central tendency, businesses will be able to determine the range of their products, sales, or the majority or average of the humans they are catering to. They will be able to use the data given to make their business better. It will make the executives fully view the whole company giving them an edge to make short and long term decisions that should benefit the company.]]> 2017-11-22 00:38:17 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302404 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302409 The measures of central tendency is important in business terms because it shows us the average of a set of data. It is even more useful when we are dealing with larger values in your data. Also it is necessary for the measures of central tendency to compare a part of a set of data to another. When one finds the average, we can easily show the comparisons between them. To a point where you could even compare a set of data to the entire whole. In short it would be beneficial to use these measures of central tendency to show the pros and cons of different things you are comparing.

Source:
 http://study.com/academy/lesson/central-tendency-measures-definition-examples.html#]]> 2017-11-22 00:38:19 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302409 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302443 Central Tendency is important because it lets us know what is normal or 'average' for a set of data. When working with large amounts of data central tendency also condenses the data set down to one representative value. It also allows u to compare one set date from another.

http://study.com/academy/lesson/central-tendency-measures-definition-examples.html#

]]> 2017-11-22 00:38:39 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302443 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302546 Solving for the measures of central tendency is important because:

1. It provides a summary of the whole data. 
2. It reduces the data into a single value. 
3. It makes comparison of data easier. 
4. We can identify where most of the data is located. 
5. When it's plotted in the graph, we can easily identify the outliers in the data. 

Source: https://www.bartleby.com/essay/Business-Applications-of-Measure-of-Central-Tendency-PKJNSXE3VJ
https://www.quora.com/What-is-the-importance-of-using-central-tendency-in-analyzing-data]]> 2017-11-22 00:39:31 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302546 1700115 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302631 Measures of tendency is important because it is to identify the average and overall of something. It is very useful in psychology. It lets us know what is normal or 'average' for a set of data. It also condenses the data set down to one representative value, which is useful when you are working with large amounts of data.
Sourcehttp://study.com/academy/lesson/central-tendency-measures-definition-examples.html]]> 2017-11-22 00:40:09 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302631 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302685 2017-11-22 00:40:44 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302685 1600109 https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302717 By solving the measure of central tendency, businesses will be able to:
- Get the average income 
- Get the average expenses
- Can help businesses in surveying customers
- ]]> 2017-11-22 00:40:54 UTC https://padlet.com/abigailroseespina/sjsld1kuv0l6/wish/209302717