## Fishers Ideal Index Number: Calculation, Features and Limitation

Fishers Ideal Index Number is one the important price index number. Prof Irving Fisher developed this index number after an extensive study of 134 different formulae. It is a type of weighted index number. Calculation Process: Calculation process of fishers Read More …

## STANDARD DEVIATION: DEFINITION, PROPERTIES, MERITS AND DEMERITS

Standard Deviation is the most scientific and most popular measure of dispersion. It was first used by Karl Pearson in 1893. “Standard deviation is the square root of the arithmetic mean of the squares of deviations of items from their Read More …

## MAJOR DEFINITION OF STATISTICS

Gottfried Achenwall is considered as the father of statistics. The term statistics is named differently in a different language each of which means Political State. The term statistics implied both data and statistical methods. German      =Statistik French       =Statistique Italian        =Statista Read More …

## Measure of Central Tendency

The formula N/2 to measure median is used in continuous series. While N/2+1 is taken in individual and discrete series. Median and mode can be obtained by graphical method but mean cannot be. Median and mode are positional average whereas Read More …