Question

The best average in percentage rates and ratios is: (a) Arithmetic mean (b) Lower and upper quartiles (c) Geometric mean (d) Harmonic mean​

Answer 1

Answer:

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Answer 2

The correct answer is option (c) Geometric Mean.

Explanation:

• The best average in percentage rates and ratios is Geometric Mean.
• The geometric mean is a mean or average, which indicates the central tendency or typical value of a set of numbers by using the product of their values.
• The Geometric Mean (GM) is the average value or mean which signifies the central tendency of the set of numbers by taking the root of the product of their values.
• For example: for a given set of two numbers such as 8 and 1, the geometric mean is equal to √(8×1) = √8 = 2√2.