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Uses
Arithmetic mean is widely used because of the following reasons:
Mean is the simplest average to understand and easy to compute.
It is relatively reliable in the sense that it does not vary too much when repeated samples are taken from one and the same population, at least not as much as some other kind of statistical descriptions.
The mean is typical in the sense that it is the center of gravity balancing the values on either side of it.
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Large Sample Test for Mean A random sample of size n (n > 30) has a sample mean . To test the hypothesis that the population mean μ has a specified value μ 0 let us formu
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Objective of index numbers
Multivariate analysis of variance (MANOVA) is a technique to assess group differences across multiple metric dependent variables simultaneously, based on a set of categorical (non-
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Explain the characteristics of business forecasting.
what does it mean by moving average?
Skewness Meaning and Definition Literal meaning of skewness is lack of symmetry; it is a numerical measure which reveals asymmetry of a statistical series. According t
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