Business Statistics-Measure of Central Value (Arithmetic Mean, Harmonic Mean & Geometric mean)

The measurement of central value is also known as average. For example we often talk about the average height or average life of an Indian etc.

 Types of Average

Arithmetic Mean, Harmonic Mean, Geometric Mean 

(1) Individual Observation

(2) Discrete Series

(3) Continuous series

(a) Simple Arithmetic Mean 

 

 Que. 1 Calculate the Arithmetic Mean-With Individual Series 

Que. 2 Calculate the Arithmetic Mean-With Discrete Series

Que. 3. Calculate the Arithmetic Mean-With Continuous Series

Geometric Mean

Que 1 

Que 2

Geometric Mean Discrete Series

Geometric Mean Continuous Series

Harmonic Mean

 

Que 1 With Discrete Series

Que 2 With Continuous Series

                                                                             = 30/1.004

                                                                            

                                                                               =  29.88