Arithmetic average or mean, Applied Statistics

Arithmetic Average or Mean

The arithmetic mean is the most widely and the most generally understandable of all the averages. This is clear from the reason that when the term   mean is used alone it always refers to the arithmetic mean. According to croxton and Cowden ,The arithmetic  mean of a series  of items is obtained by adding the value of the items and dividing by the numbers of  in the words of H Sadist , Arithmetic mean  is the amount secured by living  the sum of values of the  items in a series by their number  F. C.Mills says  the arrhythmic mean is the centre of gravity of a distribution .

Kinds of Arithmetic Mean: The arithmetic mean is of two kinds

(1)   Simple Arithmetic Mean

(2)   Weighted Arithmetic Mean

(1)   Simple Arithmetic Mean: When all the values of a statistical series are given equal importance, the values is divided by number of items it is called simple Arithmetic Mean. 

(2) Weighted Arithmetic Mean:  Sometimes a statistical series comprises of different values of different importance. As such it becomes essential to give weight age to different values according to their relative important which are called weight. As such the different values are multiplied with their respective weight. The total of the product so obtained is divided by the total of weights.  The quotient is called weighted arithmetic mean.        

Posted Date: 9/26/2012 7:41:50 AM | Location : United States







Related Discussions:- Arithmetic average or mean, Assignment Help, Ask Question on Arithmetic average or mean, Get Answer, Expert's Help, Arithmetic average or mean Discussions

Write discussion on Arithmetic average or mean
Your posts are moderated
Related Questions
solve problems


Suppose the money supply process is now represented by the following function: where m measures the sensitivity of money supply with respect to the interest rate. (i) Us

A salesperson visits from house to house to sell her knives. The probability that she makes a sale at a random house is .3. Given that she makes a sale, the sale is worth $100 with

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

In the context of multivariate data analysis, one might be faced with a large number of v&iables that are correlated with each other, eventually acting as proxy of each other. This

The cost of living index number on a some data was 200. From the base period, the percentage enhances in prices were-Rent Rs 60, clothing Rs 250, Fuel and Light Rs 150 and Miscella

Bernoulli's Theorem If a trial of an experiment can result in success  with probability p and failure with probability q (i.e.1-p) the probability of exactly r success in n tri

i want assignmrnt help

get a questionnaire that captured age at first marriage