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

Measures of dispersion, calculate variance and standard deviation of the f...

calculate variance and standard deviation of the following sample 12,22,32,13,12,23,34,52,56,23,44,32,11,11

Sampling error , Sampling Error  It is the difference between the value...

Sampling Error  It is the difference between the value of the actual population parameter and the sample statistic. Samples are used to arrive at conclusions regarding the p

Stk, The mean tax-return preparation fee H&R Block charged retail customers...

The mean tax-return preparation fee H&R Block charged retail customers in 2012 was $183 (The Wall Street Journal, March 7, 2012). Use this price as the population mean and assume t

Stratified random sampling, Stratified Random Sampling: This method of ...

Stratified Random Sampling: This method of sampling is used when the population is comprised of natural subdivision of units, The method consist in classifying the population u

Cartogram or mapograph, Cartogram or Mapograph:   Statistical maps are a...

Cartogram or Mapograph:   Statistical maps are also used to represent data like density of population indifferent states in the country or different countries in the world or th

Chi square test, application of chi square test in civil engineering

application of chi square test in civil engineering

Practice-Based Evidence, how to analyzePractice-Based Evidence Back to the ...

how to analyzePractice-Based Evidence Back to the Future

Bimodal distribution, There may be two values which occur with the same max...

There may be two values which occur with the same maximum frequency. The distribution is then called bimodal. In a bimodal distribution, the value of mode cannot be determined with

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

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