Question

Write the names of the types of arithmetic mean.

Answer 1

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Answer:

There are different types of mean, viz. arithmetic mean, weighted mean, geometric mean (GM) and harmonic mean (HM). If mentioned without an adjective (as mean), it generally refers to the arithmetic mean.

Answer 2

Answer:

Arithmetic Mean are of 2 types:

(i) Simple Arithmetic Mean

In simple arithmetic mean, all items of a series are taken as of equal importance.

(ii) Weighted Arithmetic Mean

In weighted arithmetic mean, different items are taken as of different importance, accordingly weights are accorded to different items depending on their relative importance.