Arithmetic average or mean, Applied Statistics

Assignment Help:

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.        


Related Discussions:- Arithmetic average or mean

MEASURING TREND, DISCUSS THE METHODS OF MEASURING TREND

DISCUSS THE METHODS OF MEASURING TREND

Calculate the one year interest rate, A.The coupon rate of Erie-Chicago Rai...

A.The coupon rate of Erie-Chicago Rail is 7%. The interest rate of Florida municipal bond with equal risk is 6%.  At what tax rate the two bonds are as good as each other B.Supp

Factor analysis, Factor analysis (FA) explains variability among observed r...

Factor analysis (FA) explains variability among observed random variables in terms of fewer unobserved random variables called factors. The observed variables are expressed in

Which average is to be used to describe statistical data?, There ar...

There are situations where none of the three averages is fully satisfactory. For example, if the number of items in a series is very small, none of these av

Descriptive Statistics, To determine the proportion of people in your town ...

To determine the proportion of people in your town who are smokers, it has been decided to poll people at one of the following local spots: (a) the pool hall; (b) the bowling alley

Combined standard deviation, How to a calculate the combined standard devia...

How to a calculate the combined standard deviation for five groups (samples)?

Find the probability that a lift will weigh, Lifts usually have signs indic...

Lifts usually have signs indicating their maximum capacity. Consider a sign in a lift that reads "maximum capacity 1400kg or 20 persons". Suppose that the weights of lift-users are

Mode, Mode The mode is the value which occurs most frequ...

Mode The mode is the value which occurs most frequently in a set of observations on the point of maximum frequency and around which other items of the set cluste

Different analyses of recurrent events data, Different analyses of recurren...

Different analyses of recurrent events data: The bladder cancer data listed in Wei, Lin, and Weissfeld (1989) is used in Example 54.8/49.8 of SAS to  illustrate different anal

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