Advantages And Disadvantages Of Arithmetic Mean Pdf


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26.03.2021 at 16:37
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advantages and disadvantages of arithmetic mean pdf

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Advantages and disadvantages of arithmetic mean

Earn a free Open University digital badge if you complete this course, to display and share your achievement. Anyone can learn for free on OpenLearn, but signing-up will give you access to your personal learning profile and record of achievements that you earn while you study. Start this free course now. Just create an account and sign in. Enrol and complete the course for a free statement of participation or digital badge if available. Ever heard of families with 2. This highlights one of the problems with averages: the value you get may not be a real value in terms of what you are talking about.

Merits and Demerits of Arithmetic Mean

Mean is a concept used in the context of statistics, it is also known as the arithmetic mean. Arithmetic mean is sum total of numbers present in the collection divided by the number of numbers present in the collection. For example if there are 5 people whose weight are 30,40,50,60 and 70 pounds, now if one has to find the mean weight of this group than it will be calculated as sum total of weight of the group which is and then it will divide by the number of people which is 5 than the mean weight of this group will come to 50 pounds. In order to understand more about this concept one should look at the advantages and disadvantages of mean. The biggest advantage of mean is that all the data is taken into account for calculating mean of the data and hence no data is left out which results in mean having the representation of all the data and therefore it will be giving accurate results. Another advantage of mean is that it is very easy to understand and calculate and therefore any individual having basic mathematics knowledge can understand and compute the mean from available data.


The important disadvantage of mean is that it is sensitive to [9] A weight wi is attached to each of the values xi to reflect this importance. It is defined as the arithmetic mean of the values taken on a log.


Arithmetic Average Advantages and Disadvantages

Arithmetic average, or arithmetic mean , or just mean , is probably the simplest tool in statistics, designed to measure central tendency in a data set which can be a group of stocks or returns of a stock in particular years. Using arithmetic average has advantages and disadvantages, and in some cases you may find other measures like geometric average or median more suitable. On this page:.

Statistical Methods: Weighted Arithmetic Mean, Advantages and Disadvantages of Arithmetic Mean

Merits of mean and Demerits

In statistics, a measure of central tendency is a single value or number that attempts to describe or represent a set of data by identifying the central position within that set of data. We are able to use a single value or number that attempts to describe or represent a set of data because most data tend to cluster around central points. For example: It would be difficult to tell how a class performed by looking at a long list of hundred scores. On the other hand, by applying the measures of central tendency — the mean, median or mode, we could get a typical or single number which would give us a better idea of the students performance. It would also help us compare this class with other classes.

It can be easily calculated; and can be easily understood. It is the reason that it is the most used measure of central tendency. Fluctuations are minimum for this measure of central tendency when repeated samples are taken from one and the same population. It can further be subjected to algebraic treatment unlike other measures i. A single item can bring big change in the result.

Before you order, simply sign up for a free user account and in seconds you'll be experiencing the best in CFA exam preparation. Quantitative Methods 1 Reading 7. Statistical Concepts and Market Returns Subject 4. Measures of Center Tendency. Seeing is believing! Find out more. Subject 4.

What are the Measures of Central Tendency?

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Advantages And Disadvantages Of Arithmetic Mean

Сьюзан положила голову ему на грудь и слушала, как стучит его сердце. А ведь еще вчера она думала, что потеряла его навсегда.

 - Нам сейчас пригодится любая помощь. Посверкивая в красноватом свете туннельных ламп, перед ними возникла стальная дверь. Фонтейн набрал код на специальной углубленной панели, после чего прикоснулся к небольшой стеклянной пластинке.

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Он подошел ближе.  - Я опытный диагност.

4 Comments

Kathryn J.
30.03.2021 at 19:26 - Reply

Advantage 1: Fast and easy to calculate. Advantage 2: Easy to work with and use in further analysis. Disadvantage 1: Sensitive to extreme values. Disadvantage 2: Not suitable for time series type of data.

Anita W.
31.03.2021 at 07:18 - Reply

The term "arithmetic mean" is preferred in some contexts in mathematics and statistics, because it helps distinguish it from other means , such as the geometric mean and the harmonic mean.

Mandy L.
04.04.2021 at 09:40 - Reply

How to Find the Mean · Arithmetic mean is simple to understand and easy to calculate. · It is rigidly defined. · It is suitable for further algebraic.

Aurele H.
05.04.2021 at 07:24 - Reply

Are you prepared?

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