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

Simple regression analysis, Construct your initial multivariate model by se...

Construct your initial multivariate model by selecting a dependent variable Y and two independent variables X. Clearly define what each variable represents and how this relates t

Stata question, i am new to stata and i am trying to figure out how to calc...

i am new to stata and i am trying to figure out how to calculate expected growth of sales tax revenue as well as average growth rate of sales tax revenue in stata. I have a dataset

CERTIFICATE OF AIRWORTHINESS FOR EXPORT, CERTIFICATE OF AIRWORTHINESS FOR E...

CERTIFICATE OF AIRWORTHINESS FOR EXPORT When aircraft manufacturers go into series production of a new type of aircraft, then obviously they are hopeful of world wide sales. Sim

Caveat, Caveat We must be careful when interpreting the meaning of asso...

Caveat We must be careful when interpreting the meaning of association. Although two variables may be associated, this association does not imply that variation in the independ

Displacement of a simply supported beam, The displacement of a simply suppo...

The displacement of a simply supported beam subject to a uniform load is given by the solution of the following differential equation (for small displacements); and q is th

Calculate the mean, Question: The weights of 60 children born to mother...

Question: The weights of 60 children born to mothers in a small rural hospital were recorded. 3.63 3.54 3.15 3.90 4.29 4.06 2.91 3.36 3.3

Accelerated failure time model, Accelerated Failure Time Model A basic m...

Accelerated Failure Time Model A basic model for the data comprising of survival times, in which the explanatory variables measured on an individual are supposed to act multipli

Mean absolute deviation, Mean Absolute Deviation To avoid the problem o...

Mean Absolute Deviation To avoid the problem of positive and negative deviations canceling out each other, we can use the Mean Absolute Deviation which is given by

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