Which of the following statement is false?

Arithmetic mean is a positional value.

The correct answer is Option 2: Arithmetic mean is a positional value.

Median (Not Arithmetic Mean) is that positional value of the variable which divides the distribution into two equal parts, one part comprises all values greater than or equal to the median value and the other comprises all values less than or equal to it. The Median is the “middle” element when the data set is arranged in order of the magnitude. Since the median is determined by the position of different values, it remains unaffected if, say, the size of the largest value increases.

Option 1: An average alone is not enough to compare series is generally true because different measures of central tendency (like mean, median, mode) and measures of dispersion (like range, variance, standard deviation) are often used together for a more comprehensive analysis.

Option 3: The upper quartile is indeed the lowest value within the top 25% of the data points, when the data is arranged in ascending order. It divides the upper half of the data into two quartiles.