Solved: When is the mean the best measure of central tendency, Microeconomics

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When is the mean the best measure of central tendency

Discussion questions :

Question 1

When is the mean the best measure of central tendency? When is the median the best measure of central tendency? Explain.

Question 2

A researcher has determined that the distribution of annual salaries of NBA players is bell-shaped and symmetrical about the mean salary, do you think that introducing Kobe Bryant's last annual salary of more than $30 million would skew this distribution? Explain why or why not. What would be the best measure of central tendency for this distribution? Explain

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Microeconomics: When is the mean the best measure of central tendency

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Microeconomics: When is the mean the best measure of central tendency

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