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central tendency

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
central tendency
n
(Mathematics & Measurements / Statistics) Statistics the tendency of the values of a random variable to cluster around the mean, median, and mode


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Standard CPI is the traditional measure for inflation, but a few extreme outliers (such as the price of fuel) can throw off the average; thus the median is a more robust statistic to estimate the central tendency in the data.
The Committee's central tendency is now for the economy to contract on a year-over-year basis in 2009 between -1.
The full minutes from the meeting can be found on the Fed's website and the updated quarterly forecasts are listed below: Federal Reserve economic projections: Real GDP Central tendency 2009 Est.
 
 
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