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

Determine the matrix of the transformation, Consider the linear transformat...

Consider the linear transformation (a) Find the image of (3 , -2 , 2) under T. (b) Does the vector (5, 3) belong to the range of T? (c) Determine the matrix of the transf

How many possible latin square designs are there, In an agricultural experi...

In an agricultural experiment, we wish to compare the yields of three different varieties of wheat. Call these varieties A, B and C. We have a ?eld that has been marked into a 3 *

Statistical process control, Statistical Process Control The variabilit...

Statistical Process Control The variability present in manufacturing process can either be eliminated completely or minimized to the extent possible. Eliminating the variabilit

Chi square test as a distributional goodness of fit, Chi Square Test as a D...

Chi Square Test as a Distributional Goodness of Fit In day-to-day decision making managers often come across situations wherein they are in a state of dilemma about the applica

B) Distinguish between:, X 110 120 130 120 140 135 155 160 165 155 ...

X 110 120 130 120 140 135 155 160 165 155 Y 12 18 20 15 25 30 35 20 25 10

Vital statistics, How vital statistics are affects on our human life

How vital statistics are affects on our human life

Number of principal components, While there are p original variables the n...

While there are p original variables the number of principal components is m such that m

Kolmogorov-smirnov - normal probability plot, The Null Hypothesis - H0:  Th...

The Null Hypothesis - H0:  The random errors will be normally distributed The Alternative Hypothesis - H1:  The random errors are not normally distributed Reject H0: when P-v

Time series analysis., how is a free hand graph secular trend method plotte...

how is a free hand graph secular trend method plotted

Pattie-lynns utility function, Pattie-Lynn's utility function for total as...

Pattie-Lynn's utility function for total assets is, in which A represents total assets in thousands of dollars. (a) Graph Pattie-Lynn's utility function. How would y

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