Arithmetic average or mean, Applied Statistics

Assignment Help:

Arithmetic Average or Mean

The arithmetic mean is the most widely and the most generally understandable of all the averages. This is clear from the reason that when the term   mean is used alone it always refers to the arithmetic mean. According to croxton and Cowden ,The arithmetic  mean of a series  of items is obtained by adding the value of the items and dividing by the numbers of  in the words of H Sadist , Arithmetic mean  is the amount secured by living  the sum of values of the  items in a series by their number  F. C.Mills says  the arrhythmic mean is the centre of gravity of a distribution .

Kinds of Arithmetic Mean: The arithmetic mean is of two kinds

(1)   Simple Arithmetic Mean

(2)   Weighted Arithmetic Mean

(1)   Simple Arithmetic Mean: When all the values of a statistical series are given equal importance, the values is divided by number of items it is called simple Arithmetic Mean. 

(2) Weighted Arithmetic Mean:  Sometimes a statistical series comprises of different values of different importance. As such it becomes essential to give weight age to different values according to their relative important which are called weight. As such the different values are multiplied with their respective weight. The total of the product so obtained is divided by the total of weights.  The quotient is called weighted arithmetic mean.        


Related Discussions:- Arithmetic average or mean

Explain ridge regression, Using log(x1), log(x2) and log(x3) as the predict...

Using log(x1), log(x2) and log(x3) as the predictors, do pair wise scatterplots of all pairs of variables (including the response) and comment (use the pairs function). Do you thin

Ashland MultiComm Services, Suppose that in the actual survey of 50 prospec...

Suppose that in the actual survey of 50 prospective customers, 6 subscribe to the 3 for all offer, what does this tell you about the previous estimate of the proportion of customer

Statistical quality control assinment, how to get statistical quality contr...

how to get statistical quality control assignment in brief?

Standard deviation, Standard Deviation The main drawback of the deviati...

Standard Deviation The main drawback of the deviation measures of dispersion, as discussed earlier, is that the positive and negative deviations cancel out each other. Use of t

Statisttics., Explain any two applications of statistics

Explain any two applications of statistics

Central tendency, Definition of Central Tendency The central tendency o...

Definition of Central Tendency The central tendency of a variable means a typical value around which other values tend to concentrate which can be measured. Such concentration

Luxury goods higher for men than for women, According to a recent study, wh...

According to a recent study, when shopping online for luxury goods, men spend a mean of $2,401, whereas women spend a mean of $1,527. Suppose that the study was based on a sample o

Choose the correct null hypotheses, For the following claim, find the null ...

For the following claim, find the null and alternative hypotheses, test statistic, P-value, critical value and draw a conclusion. Assume that a simple random sample has been selec

Descriptive statistics, Descriptive Statistics : Carrying out an extens...

Descriptive Statistics : Carrying out an extensive analysis the data was not a subject to ambiguity and there were no missing values.  Below are descriptive statistics that hav

Evaluate the probability, "MagTek" electronics has developed a smart phone ...

"MagTek" electronics has developed a smart phone that does things that no other phone yetreleased into the market-place will do. The marketing department is planning to demonstrate

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd