Characteristics of good average, Operation Research

Assignment Help:

Characteristics  of Good Average

a.It should  be Rigidly  Defined  An average should  be rigidly defined so that  there is  no confusion  in regard  to its  meaning  and connotation. If  it is not well defined it may be influenced by  the  prejudice  and personal bias of the investigator making its value  unstable and  render it unrepresentative of  the distribution.

b.Its Definition Should  be in the Form of a Mathematical Formula With  mathematical  formulation  different persons  may not interpret it differently and anybody computing the  average  from  a set of data will arrive at the  same figure i, e, it should  not depend  upon the  whim  or  caprice  of the person  computing it.

c.It Should  be Easy to Calculate and Simple  to Follow An average  should  be simple  in comprehension  so that it  can he calculated with  reasonable  case and  rapidity else its use will  be  very  limited.

d.It Should  be Based  on all Observation in  the Series An average will be truly representative  of the  whole  mass of data if it is computed from  all the observations.

e It Should  not be Affected Much  by a Few  Extreme Values A few very  small  or very large  observations should  not unduly affect  the value  of a good average.

f. It Should be Capable of Further Algebraic Treatment An average  should lend itself readily to  further algebraic treatment. For example  if average of two  or more  sets   of data  are  known  it  should be  possible  to obtain  the average of combined group.

g.It Should  be Capable of Being  Used  in Further Statistical Computation or Processing's An average  should  posses  this  quality e, g,  arithmetic  mean is  suitable for  calculating standard  deviation  else it will not be  of great  use in  further statistical   analysis and its utility will be limited.

It Should  possess Sampling  Stability An average  should  be least affected by sampling. By  this  we mean  that if  we take  independent  random  samples  of the same  size from  a given  population and  compute  the average   each  of these samples in an ideal average, the  values  so obtained  from different  samples should  not vary  much  from  one  another

 


Related Discussions:- Characteristics of good average

Solve the problem using simplex method, #question. A paper mill produces tw...

#question. A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grad

Inherent forces fomenting conflicts of interest, Inherent forces fomenting ...

Inherent forces fomenting conflicts of interest Several forces have coalesced to increase the incidence of conflicts of interest in the medical industry: the vertical integrat

Draw a network for the project adn determine the critical pa, a)Draw a netw...

a)Draw a network for the project. b)Determine the critical path. Activity Duration Activity Duration 1-2 15 5-10 22 1-3 13 6-9 33 1-4 1

Linear programming , A paper mill prouduces two grads of paper viz., X and ...

A paper mill prouduces two grads of paper viz., X and Y. Becouse of raw material restriction, it cannot product more then 400 tons of grade X paper and 300 tons of grade Y paper in

Mba, in a rectangular game ,pay of matrix of player A is as follows

in a rectangular game ,pay of matrix of player A is as follows

Mode of presentation - report writing presentation, Mode  of Presentation...

Mode  of Presentation A strategy  needs to be  chalked out for  a satisfactory  rendering of the  topic. The  man oeuvres are going  t vary  with a  change in the  manner  of

Linear programming problem, A paper mill produces two grades of paper viz.,...

A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i

Operation research, Operations research is used by manager in making busine...

Operations research is used by manager in making business decisions. What are five each of its merit and demerit that the users need to be aware of?

Discuss how theories is helpful researchers in communication, QUESTION 1 ...

QUESTION 1 i) What do you understand by the following terms? And what is their role in communication theories? Ontology Epistemology Axiology ii) Discuss how

Oral presentation - report writing presentation, Oral Presentation At ...

Oral Presentation At times  oral presentation of the  results of the study is considered effective particularly in case where  policy recommendations are indicated by project

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