Showing posts with label Statistics. Show all posts
Showing posts with label Statistics. Show all posts

Advantages And Disadvantages Of Standard Deviation

Education , Statistics
Advantages Or Merits Of Standard Deviation

The main advantages of standard deviation can be expressed as follows:

1. Rigidly Defined

Standard deviation is rigidly defined measure and its value is always fixed.

2. Best Measure

Standard deviation is based on all the items in the series. So, it is the best measure of dispersion.

3. Less Affected

Standard deviation is least affected by the sampling fluctuations than other measures (mean deviation and quartile deviation).

4. Suitable For Algebraic Operation

Standard deviation can be used for mathematical operations and algebraic treatments. It is also applicable in statistical analysis.


Disadvantages Or Drawbacks Of Standard Deviation

Some of the major disadvantages of standard deviation can be expressed as follows:

advantages and disadvantages of standard deviation

1. Complex Method

Standard deviation is complex to compute and difficult to understand as compared to other measures of dispersion.

       Also Read: 

2. High Effect

Standard deviation is highly affected by the extreme values in the series.

Pros And Cons Of Standard Deviation In Short

Pros:
- It is well defined and well known measurement of dispersion
- It is useful for mathematical, algebraic and statistical treatments
- It is less affected by fluctuations

Cons:
- It is difficult to calculate and hard to understand
- It is affected by extreme items or values
- Not applicable for open end class frequency distribution
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Advantages And Disadvantages Of Mean Deviation

Education , Statistics

Merits Or Advantages Of Mean Deviation

The main advantages of mean deviation can be highlighted as follows:

1. Simple And Easy


Mean deviation can be computed easily by using simple formula. It can be easily understood.

2. Easy Comparison

Different items of observations can be easily compared with mean deviation.

3. Better Measure

Mean deviation is better than quartile deviation and range because it is based on all the observations of the series.

4. Less Affected

Mean deviation is less affected by the extreme values in the series while comparing to standard deviation.

5. Rigidly Defined

Mean deviation is rigidly defined. So, it has fixed value.

6. Usefulness

It is very useful in various fields such as economics, commerce, economics etc.

      Also Read: 
Demerits Or Disadvantages Of Mean Deviation

The major drawbacks or disadvantages of mean deviation can be highlighted as follows:

1. Difficulty

It becomes difficult to compute mean deviation in case of fractions.

2. Not Applicable

Mean deviation is not applicable for algebraic calculations.
advantages and disadvantages of mean deviation
3. Ignores Negative Signs

Mean deviation is not a good measure as it ignores negative signs of deviations. 

4. Mean deviation cannot be obtained in case of open end class series.
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Advantages And Disadvantages Of Quartile Deviation

Education , Statistics
Advantages/Merits Of Quartile Deviation (Q.D)

Major advantages of quartile deviation can be studied as follows:

1. Rigidly Defined

Quartile deviation is rigidly defined measure of dispersion. So, its value is always fixed.

2. Easy Calculation

It can be computed easily by using following formula:

Q.D = (Q3-Q1)/2

(Where, Q.D = Quartile Deviation, Q3= Upper Quartile And Q1= Lower Quartile)


3. Better Than Range

Quartile deviation is far better than range because it considers 50% terms or the series.

4. It can be determined in case of open end class distribution also.
advantages disadvantages quartile deviation

5. Less Affected

Quartile deviation is less affected by extreme values.

Disadvantages Or Demerits Of Quartile Deviation (Q.D)

Some of the major disadvantages of quartile deviation can be expressed as follows:

1. Quartile deviation is not based on complete items of the series as it ignores 50% of the observations.
     Also Read: 

2. Q.D is not applicable for further mathematical treatments or algebraic calculations.

3. The value of Q.D is much affected by sampling fluctuations.

4. Complex And Time Consuming

It requires some mathematical knowledge and time to compute quartile deviation. So, it is complex and time consuming method than range.
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Advantages And Disadvantages Of Range

Education , Statistics
Advantages/Merits Of Range

Main advantages of range can be highlighted as follows:

1. Rigidly Defined

Range is rigidly defined measure of dispersion. So, it value is always fixed.

2. Simple And Easy Method

It does not require special mathematical knowledge to compute range. It can be calculated simply by subtracting lowest value from the largest value in the series. It is very simple to understand.

3. Usefulness 

Range can be used for quality control purpose. It is also useful for weather forecast.

Disadvantages/Demerits Of Range

The main drawbacks or disadvantages of range can be pointed out as follows:

1. Not Based All Items

Range may not be considered as the reliable method of dispersion because it is  not based on the all items in the series.

advantages disadvantages of range

2. Highly Affected

Range is highly affected by sampling fluctuations.


3. Range cannot be determined in case of open end class distribution.

4. It is not suitable for further algebraic treatments and other mathematical calculations.

Pros And Cons Of Range In Short

Pros:
- It is well defined measure of dispersion
- It has always fixed values
- It is very simple to determine and everyone can understand easily
- It can be used to test product quality, weather forecasting, fluctuations in share prices etc.

Cons:
- It cannot be calculated for open end series
- It does not assist for further mathematical treatment
- It is unstable because its value is affected by the change in sampling fluctuations
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Advantages And Disadvantages Of Harmonic Mean

Education , Statistics
Merits Or Advantages Of Harmonic Mean

Some of the notable advantages of harmonic mean can be expressed as follows:

1. Rigidly Defined Method

Value of harmonic mean is always fixed as it is rigidly defined.

2. Appropriate For Rate And Time

Harmonic mean is suitable for the computation of average of time, rate and ratios.

3. Useful For Further Treatment

Harmonic mean is suitable for algebraic calculation and other mathematical treatments.

4. No Any Effect

Like geometric mean, harmonic mean is also not affected by sampling fluctuations.

advantages disadvantages harmonic mean

5. Based On Observations

Harmonic mean is totally based on all the items or observations of the series. So, all the items are required to determine it.

Demerits Or Disadvantages Of Harmonic Mean

Major drawbacks or disadvantages of harmonic mean are as follows:

1. Complex Method

Calculation of harmonic mean is a difficult process. Good mathematical knowledge is required to compute it. So, it is complex to determine and hard to understand.

     Also Read: 

2. Unobtainable

Harmonic mean cannot be obtained if the value of any item in the series is zero.

3. Limited Scope

Its scope is limited than arithmetic mean.

4. High Effect

Harmonic mean is highly affected by the extreme values in the series.
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