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

Sampling techniques, discuss and explain both probability and non probabili...

discuss and explain both probability and non probability sampling techniques.

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

Video tapes - report writing presentation , Video  Tapes  Video  t...

Video  Tapes  Video  tapes  are very  information  and attention  grabbing  presentational  supports. They  are  best  for illustrating the  persons  in actions  and presen

Operations research approach to problem solving, Formulation of the Problem...

Formulation of the Problem: Before proceeding to find the solution of a problem, first of all a manager should be competent enough to form an appropriate model. To do so f

Methods of scientific research, Methods is a tool or a techniques used t...

Methods is a tool or a techniques used to collect data. It is procedure for obtaining knowledge based on empirical observation and logical reasoning. Field Study Metho

Describe operation research, Describe Operation Research and discuss its ap...

Describe Operation Research and discuss its applications in various organizations. A company assembles heavy duty refrigerators and uses two types of compressors A & B. Two comp

Classification of documents by information characteristics , Classification...

Classification of documents by information Characteristics: The schemes of classification advocated by Hanson and Grogan are mainly based on the information characteristics of

Presentation - report writing presentation , Presentation After  the c...

Presentation After  the completion of any  research  project the concept  techniques  and results  of the  research  projects  should  be presented to the  audience of interes

Individual user interests - information resources, Individual User Interest...

Individual User Interests: More specific information about users could cover the following:  Subjects and associated interest - e.g. specific subjects, allied subjects;

project management , Project Management Your  data need to be orga...

Project Management Your  data need to be organized in such  a way that  access to them  is both  quick  and accurate. In  achieving  this a good qualitative analysis progra

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