Uses of arithmetic mean, Applied Statistics

Assignment Help:

Uses

Arithmetic mean is widely used because of the following reasons:

  1. Mean is the simplest average to understand and easy to compute.

  2. It is relatively reliable in the sense that it does not vary too much when repeated samples are taken from one and the same population, at least not as much as some other kind of statistical descriptions.

  3. The mean is typical in the sense that it is the center of gravity balancing the values on either side of it.


Related Discussions:- Uses of arithmetic mean

Geometric mean, Geometric Mean The geometric mean   of numbers is defin...

Geometric Mean The geometric mean   of numbers is defined as the th root of the product of numbers .It is obtained by multiplying all the values of a variable and then extracti

Physics, fixed capacitor and variable capacitor

fixed capacitor and variable capacitor

Variance, Variance The term variance was used to describe the square of...

Variance The term variance was used to describe the square of the standard deviation by R.A.Fisher. The concept of variance is highly important in areas where it is possible to

Regression model, A real estate agency collected the data shown below, wher...

A real estate agency collected the data shown below, where           y  = sales price of a house (in thousands of dollars)           x 1 = home size (in hundreds of square f

Binomial and continuous model, Exercise: (Binomial and Continuous Model.) C...

Exercise: (Binomial and Continuous Model.) Consider a binomial model of a risky asset with the parameters r = 0:06, u = 0:059, d =  0:0562, S0 = 100, T = 1, 4t = 1=12. Note that u

Question with R - Bioinformatics, Hi There, I have a question regarding R,...

Hi There, I have a question regarding R, and I am wondering if anyone can help me. Here is a code that I would like to understand: squareFunc g f(x)^2 } return(g) } sin

Utility function, The decision maker ranks lotteries according to the utili...

The decision maker ranks lotteries according to the utility function (i) State the independence assumption. Does this decision maker satisfy it? (ii) Is this decision ma

Probability, Ask queFrom these studies, which of the following may be consi...

Ask queFrom these studies, which of the following may be considered a variable that can have a probability distribution? [I] Percentage of Sub-Saharan Africans that smoke [II] Perc

Probability and expectation, Ten balls are put in 6 slots at random.Then ex...

Ten balls are put in 6 slots at random.Then expected total number of balls in the two extreme slots

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