Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Arithmetic Mean
The process of computing Arithmetic Mean in the case of individual observations is to take the sum of the values of the variable and then divide by the number of such values. It is denoted by and the formula is
where n is the number of observations and the variable X takes the values X1, X2, ... Xn.
In statistics the collection of all the elements under study is called a POPULATION whereas a collection of some (but not all) of the elements under study is called a sample. It is necessary to distinguish whether we are considering a population or a sample because certain formulas, like those for computing standard deviation (explained later) of a population are different from those for computing the standard deviation of a sample. Hence population mean is denoted by
and sample mean is denoted by
Example 1
The following table gives the annual profits of 10 financial services companies for the year 20x1-x2.
Companies
Net Profit (Rs. crore)
Ashok Leyland Finance
9.19
Classic Finance
4.27
Empire Finance
1.74
First Leasing Company
5.71
Lloyds Finance
4.80
Nagarjuna Finance
4.01
Reliance Finance
9.22
Sakti Finance
3.00
Sundaram Finance
15.16
Tata Finance
3.93
Now, the arithmetic mean of profits of the financial services industry as represented by the above companies for the year 20x1-x2 can be calculated as follows:
This single figure of mean profit represents the profits of the group of financial services companies under the industry.
A country''s national accounts are assumed to look as follows: GDP 1180 VAT and taxes 140 Commodity subsidies 60 Raw material and consumables 530 1. Calculate GVA 2. Calculate t
Ask queFrom these studies, which of the following may be considered a variable that can have a probability distribution? [I] Percentage of Sub-Saharan Africans that smoke [II] Perc
Scenario: Many of the years 5 and year 6 learners' at Woodlands Park School were excited about being chosen for the cross-country team. Every day, they were able to run laps of t
Dr. Jim Mirabella UNIT EIGHT: DATA ANALYSIS PROJECT All Excel output should be copied into a single Word document where you must enter all of your responses to the questions below.
10. If a set of scores has a sample mean of 25 and a sample variance of 4, find the following: a. the z-score for a raw score of 31 b. the z-score for a raw score of 18 c. the raw
Examining the Population Variance Business decision making does not limit itself to setting up the hypothesis to test for the equality of more than two means or proportions sim
objective of the testing stochastic regression
The calculations of arithmetic mean may be simple and foolproof, but the application of the result may not be so foolproof. An arithmetic mean may not merely lack
Mode Mode is the value of the observation which occurs with the greatest frequency and thus it is the most fashionable value, Mode has been derived from French word La m
The proportion of American Express credit-card holders who pay their credit card bill in full each month is 23%; the other 77% make only a partial or no payment. (a) In a random
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd