Merits And Demerits Of Arithmetic Mean Pdf

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merits and demerits of arithmetic mean pdf

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In this article we will discuss about Arithmetic Mean:- 1.

Merits of mean and Demerits

The arithmetic mean or simply "mean" of a sample is the sum of the sampled values divided by the number of items in the sample. The median is that value of the series which divides the group into two equal parts, one part comprising all values greater than the median value and the other part comprising all the values smaller than the median value. I the case of simple statistical series, just a glance at the data is enough to locate the median value. Median values are always a certain specific value in the series. It is enough if one knows the number of items and the middle item of the series. Also, median is of limited representative character as it is not based on all the items in the series.

DEMERITS OF ARITHMETIC MEAN

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The arithmetic mean or simply "mean" of a sample is the sum of the sampled values divided by the number of items in the sample. The median is that value of the series which divides the group into two equal parts, one part comprising all values greater than the median value and the other part comprising all the values smaller than the median value. I the case of simple statistical series, just a glance at the data is enough to locate the median value. Median values are always a certain specific value in the series. It is enough if one knows the number of items and the middle item of the series. Also, median is of limited representative character as it is not based on all the items in the series. For example, multiplying the median with the number of items in the series will not give us the sum total of the values of the series.


1) Arithmetic mean rigidly defined by Algebraic Formula. 2) It is easy to calculate and simple to understand. 3) It is based on all observations of the given data. 4) It is capable of being treated mathematically hence it is widely used in statistical analysis.


Arithmetic Mean, Properties of Arithmetic Mean and Merits & Demerits of Arithmetic Mean

Arithmetic average, or arithmetic mean , or just mean , is probably the simplest tool in statistics, designed to measure central tendency in a data set which can be a group of stocks or returns of a stock in particular years. Using arithmetic average has advantages and disadvantages, and in some cases you may find other measures like geometric average or median more suitable. On this page:. As the most basic measure in statistics, arithmetic average is very easy to calculate. For a small data set, you can calculate the arithmetic mean quickly in your head or on a piece of paper.

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DEMERITS OF ARITHMETIC MEAN

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It can be easily calculated; and can be easily understood. It is the reason that it is the most used measure of central tendency. Fluctuations are minimum for this measure of central tendency when repeated samples are taken from one and the same population. It can further be subjected to algebraic treatment unlike other measures i. A single item can bring big change in the result.


Merits of Arithmetic Mean · The arithmetic mean is simple to understand and easy to calculate. · It is influenced by the value of every item in the.


5 Comments

  1. Nancy D. 13.05.2021 at 21:47

    In statistics, a measure of central tendency is a single value or number that attempts to describe or represent a set of data by identifying the central position within that set of data.

  2. Memncathopa 16.05.2021 at 19:16

    Merits and Demerits of Arithmetic Mean · 1. It can be easily calculated; and can be easily understood. · 2. As every item is taken in calculation, it is effected by every.

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