Central tendency

{
  "id": "MLC-T-INS-000728",
  "term": "Central tendency",
  "field": "Insurance and risk management",
  "definition": "A statistical measure that identifies a single value as representative of an entire distribution of data. It aims to describe the center of a dataset, providing a summary of the typical or average value. Common measures include the mean, median, and mode, each offering a different perspective on the central point of a dataset used in actuarial analysis for loss forecasting and premium calculation.",
  "url": "https://mlchart.com/terminology/insurance/central-tendency/"
}