Arithmetic mean is a mathematical average whereas median is a positional average. Explain
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In statistics, a mean is defined as the simple average of the given set of values or quantities. The median is said to be the middle number in an ordered list of values. While mean is the arithmetic average, the median is positional average, in essence, the position of the data set determines the value of median.
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Arithmetic mean is a mathematical average whereas median is a positional average.
Explanation:
- The positional average is also called the means that are taken through the observations of the series. Where the value from the series is taken up to represents the entire series.
- This in median the middle most value is taken as the value of representation hence it forms a positional average.
- The arithmetic mean a commonly used measure of mean or average. It involves taking the sum of groups of members. Which are divided by the sum of the count of numbers used in the series.
- This is called the mathematical average and is a great way to calculate the performance of portfolios.
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- brainly.in/question/16444855 answered by Mysteryboy01.
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