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

Sample, You want to know the thoughts of air travelers in fields such as ti...

You want to know the thoughts of air travelers in fields such as tickets, comffort, safety, securuty, services and economic growth. You are given a database and 20 questions to ask

Perform a one-way anova, The Tastee Bakery Company supplies a bakery produc...

The Tastee Bakery Company supplies a bakery product to many supermarkets in a metropolitan area. The company wishes to study the effect of shelf display height employed by the supe

Circul;atory ststistics Lab, What statistics can be obtained from a circula...

What statistics can be obtained from a circulatory lab?

business forecasting, Explain the characteristics of business forecasting

Explain the characteristics of business forecasting.

Kurtosis and skew, how to interpret results, a good explanation to help me ...

how to interpret results, a good explanation to help me understand.

Calculation for discrete series or ungrouped data , Calculation for Discre...

Calculation for Discrete Series or Ungrouped Data The formula for computing mean is = where,          f  = fr

Probability function, Among the students doing a given course, there are fo...

Among the students doing a given course, there are four boys enrolled in the ordinary version of the course, six girls enrolled in the ordinary version of the course,and six boys e

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

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