Question

than other measures of central tendency?
5. Compare and contrast arithmetic mean, geometric mean and harmonic mean.
6. What are the merits and demerits of the chief averages used in Statistics ? Indicate their uses.
What do you mean by the median​

Answer 1

Answer:

c

Explanation:

Arithmetic Mean

The arithmetic mean is calculated by adding all of the numbers and dividing it by the total number of observations in the dataset.

For example: Arithmetic Mean => 4 + 10 + 7 => 21/3 => 7

The arithmetic works well when the data is in an additive relationship between the numbers, often when the data is in a ‘linear’ relationship which when graphed the numbers either fall on or around a straight line. But not all datasets establish a linear relationship, sometimes you might expect a multiplicative or exponential relationship and in those cases, arithmetic mean is ill-suited and might be misleading to summarize the data.                                                             Geometric Mean    

The geometric mean works well when the data is in an multiplicative relationship or in cases where the data is compounded; hence you multiply the numbers rather than add all the numbers to rescale the product back to the range of the dataset. The data is seen as a scaling factor and does not contain null or negative values. Geometric mean is used when the data is not linear and specifically when a log transformation of data is taken.

Suppose you invested $500 initially which yielded 10% return the first year, 20% return the second year and 30% return the third year. After three years, you have $500 * 1.1 * 1.2 * 1.3 = $858.00.

Whereas if you taking arithmetic mean, it’s 10+20+30 = 20% return on

Answer 2

hhhjjjjwjkwkwkwkwkwkkwk