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Which average would be suitable in the following case? When the sum of absolute deviations from average is least. - Economics

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Question

Which average would be suitable in the following case?

When the sum of absolute deviations from average is least.

Short/Brief Note
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Solution

When the sum of absolute deviations from average is the least, then mean could be used to calculate the average. This is an important mathematical property of arithmetic mean. The algebraic sum of the deviations of a set of n values from A.M. is 0.

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