2. ๏Introduction:
๏This chapter extended our discussion of
descriptive statistics, which deals with
methods of summarizing and presenting
the essential information contained in a
set of data.
๏After constructing a frequency distribution
to obtain a general idea about the
distribution of a data set, we can use
numerical measures to describe the central
location of the data.
3. Average:
โAn average is a central value which can
represent the whole data.โ
The average tends to lie in the centre of a
distribution they are called measure of
central tendency or measure of central
location.
4. Types of Averages:
The following averages are usually used.
(a) Mathematical Average:
(i) Arithmetic Mean
(ii) Geometric Mean
(iii) Harmonic Mean
(b) Average of Location:
(i) Mode
(ii) Median
5. ARITHMETIC MEAN:
The arithmetic mean of a set of n observation is defined
as the sum of all the observation divided by the number
of observation.
The arithmetic mean is the most commonly used
average. In view of its common use, it is usually referred
to as the average or simply the mean.
Calculating the Mean:
a) In case of ungroup data, the mean can be found by
the following formula:
b) In case of group data, the mean can be found by the
following formula:
n
x
x
๏ฅ๏ฝ
๏ฅ
๏ฅ๏ฝ
f
fx
x
6. Example-1:
Find arithmetic mean of the values 3, 7, 9,
10 and 5.
Solution:
๐ฅ =
๐ฅ
๐
๐ฅ =
3 + 7 + 9 + 10 + 5
5
๐ฅ =
34
5
๐ฅ = 6.8
7. 1-Find the arithmetic mean of the set of numbers
94, 101, 82, 78, 97 and 88. (90)
2-Find the arithmetic mean of the following
measurements of the diameter of a cylinder
recorded by a scientist 4.59, 4.15, 4.42, 4.47, 4.52,
4.35, 4.53, 3.98, 4.06 and 3.92 inches. (4.29)
3-The per day incomes of ten families in rupees in
a certain locality are given below, Find mean.(438.5)
Family A B C D E F G H I J
Incomes โRsโ 500 250 730 150 200 1000 670 485 100 300
8. C.I 0 โ 4 5 โ 9 10 โ 14 15 โ 19 20 โ 24 25 โ 29
F 2 4 6 8 3 1
Example-4:
Calculate arithmetic mean for the following data:
9. C.I f x fx
0 โ 4
5 โ 9
10 โ 14
15 โ 19
20 โ 24
25 โ 29
2
4
6
8
3
1
2
7
12
17
22
27
4
28
72
136
66
27
Sum 24 333
Solution:
๏ฅ
๏ฅ๏ฝ
f
fx
x
24
333
๏ฝ
88.13x ๏ฝ
11. Definition of 'Geometric Mean:
The average of a set of products, the calculation
of which is commonly used to determine the
performance results of an investment or portfolio.
Technically defined as "the 'n'th root product of 'n'
numbers",
the formula for calculating geometric mean is
most easily written as:
G.M = ( x1 . x2 . x3 โฆโฆ. xn)1/n
Or
G.M = ๏บ๏ป
๏น
๏ช๏ซ
๏ฉ๏ฅ
n
x
anti
log
log
12. Example-21(a):
Find G.M of 2 and 8.
Solution:
Example-21(b):
The rate of inflation in four years was
7%,11%,15% and19%
find the average rate of inflation per year.
Solution:
๏จ ๏ฉ ๏จ ๏ฉ
1 1
2 2G.M= x y 2 8 16 4๏ด ๏ฝ ๏ด ๏ฝ ๏ฝ
๏จ ๏ฉ ๏จ ๏ฉ
1
0.25
4. 7 11 15 19 21945 12.17%G M ๏ฝ ๏ด ๏ด ๏ด ๏ฝ ๏ฝ
13. Example-22:
A data set contains the observations.
2, 4, 6, 8, 10 find G.M .
Solution:
x logx
2 0.3010
4 0.6020
6 0.7781
8 0.9030
10 1
๐๐๐๐ฅ = 3.5841
15. 1-The monthly income of ten families in rupees in a certain
city are 85, 70, 10, 75, 500,8, 42, 250, 40, 36 $. Calculate G.M
(Ans:55.35)
2-Find the geometric mean of 1, 4 and 128 (Ans:8)
3-Find the geometric mean of 7% , 10% ,12% , 15% and 17% .
(Ans:11.65%)
4-The rate of inflation in three successive year in a country
was 13% , 17% ,and 21%. Find the average rate of inflation
per year. (Ans:16.68%)
17. Maximum
Load
(Tons)
8 โ 10 11 โ 13 14 โ 16 17 โ 19 20 โ 22 23 โ 25
No. of
cables
2 4 6 4 3 1
Find the geometric mean of the following table.
(Ans:15.22)
18. Definition of 'Harmonic Mean:
The reciprocal of the arithmetic mean of
the reciprocal is called as Harmonic Mean.
It is calculated by dividing the number of
observations by the sum of reciprocal of the
observation.
The formula to find the harmonic mean is
given by:
Harmonic Mean H =
n
1
x1
+
1
x2
+
1
x3
+ โฆ . . +
1
xn
H.M =
x
n
1
๏ฅ
19. Example-24:
A data set contains the observations.
2, 4, 6, 8, 10 find Harmonic mean.
Solution:
X
2 0.5
4 0.25
6 0.1666
8 0.125
10 0.1
x
1
1
1.1416
x
๏ฅ ๏ฝ
๐ฏ. ๐ด =
๐
๐
๐
๐ฏ. ๐ด =
๐
๐.๐๐๐๐
๐ฏ. ๐ด = ๐. ๐๐
20. 1-Find the Harmonic Mean of
40, 33, 10, 12, 16, 20, 25, 22. (Ans:18.32)
2-Find the Harmonic mean of 1, 4 and 128.
(Ans:2.39)
3-IF an investor buys shares of Rs.9000/- at a
price of Rs.45/- per share of Rs.9000/-
at Rs.36/- per share. Calculate the average
price per share. (Ans:40.81)
25. 1-Find Arithmetic, Geometric and Harmonic
Means of 40, 33, 10, 12, 16, 20, 25, 22, Also
verify the relationship between these
measures. (Ans:22.25, 20.20, 18.32)
2-Given the following index numbers for 10
years. 101, 99, 95, 105, 102, 87, 85, 112,
110, 112. Find Arithmetic, Geometric and
Harmonic Means. (Ans:100.8, 100.37, 100)