Question

Explain any three main properties of arithmetic mean. ( economics question) ​

Answer 1

Answer:

In statistics, the Arithmetic Mean (AP) or called average is the ratio of all observations to the total number of observations. The arithmetic mean can also inform or model concepts outside of statistics. In a physical sense, the arithmetic mean can be thought of as a centre of gravity. From the mean of a data set, we can think of the average distance the data points are from the mean as standard deviation. The square of standard deviation (i.e. variance) is analogous to the moment of inertia in the physical model.

Properties of Arithmetic Mean

The sum of deviations of the items from their arithmetic mean is always zero, i.e. ∑(x – X) = 0. The sum of the squared deviations of the items from Arithmetic Mean (A.M) is minimum, which is less than the sum of the squared deviations of the items from any other value

Explanation:

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