Measures Of Center And Dispersion Statistics Discussion Help

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Measures Of Center And Dispersion Statistics Discussion Help

Please answer each of the following question with at least a 100 word response

Why do we have the various measures central tendency including the mean, median and mode? For convenience sake can we not just use the popular arithmetic mean? Please provide specific applications in which each or all three of these measures are useful.

Also, how may measures of dispersion including variance and standard deviation be applied to a real-world business-related problem? Provide a specific application in which these measures are useful