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The Harmonic Mean is based on the reciprocals of numbers averaged. It is defined as the reciprocal of the arithmetic mean of the reciprocal of the given individual observations. Thus, by definition
HM
Where X1, X2, X3, etc. refer to various items of the variable.
Uses Arithmetic mean is widely used because of the following reasons: Mean is the simplest average to understand and easy to compute. It
The Elementary Teachers' Federation of Ontario make the following claim on their website as of February 13, 2013: For years, the Elementary Teachers' Federation of Ontario (ETFO
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WHAT YOU MEAN BY UTILITY OF MANAGERIALECONOMICS
The data used is from a statistical software Minitab; London.MPJ is the file that consists of 1519 households drawn from 1980 - 1982 British Family Expenditure Surveys. Data that i
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