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Uses
Arithmetic mean is widely used because of the following reasons:
Mean is the simplest average to understand and easy to compute.
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.
The mean is typical in the sense that it is the center of gravity balancing the values on either side of it.
Problem : A company supplying electrical products, places a rush order for electric wires. Consignments of wires are to be sent immediately when they are available. Previous
Question: (a) Shale Oil, located in the island of Aruba, has a capacity of 600,000 barrels of crude oil per day. The final products from the refinery include two types of unle
Zinc is a trace element and it is important in wound healing, building up the immune system and DNA synthesis. The data in Table 1 represents the zinc intake (in milligrams) for a
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Quota sampling Under this method enumerators shall select the respondents in place of those not available, as per the quota fixed according to guide lines provided to them.
In a three-cornered paint ball duel, A, B, and C successively take shots at each other until only one of them remains paint free. Once hit, a player is out of the game and gets no
Assume that the normal distribution applies and find the critical z value(s). A = 0.04; H1 is mean ≠ 98.6 degrees Fahrenheit. Dteremine the value of Z. Find the value of the
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solve problems
Betting on sporting events is big business both in the US and abroad. Consider, for instance, next winter’s American football tournament known as the Superbowl. Billions of dollars
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