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Mean is considered the measure of central tendency in the distribution of a numerical value. Commonly, it is utilized for representing the usual value and so, it works as a yardstick for every observation. 

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What is Meant by Mean?

Mean is meant sum of every value/number of values. Commonly, mean is considered the finest measure of central tendency as it takes every value into account. However, it gets affected easily by any extreme outlier or value.

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When people love to know the number of hours that an employee on average does spend at training then they find the mean of the employee’s training hours. After this, the mean can be utilized for comparing against the person’s yearly training hours. This enables him to judge whether or not he has got a comparable chance for training similar to his colleagues.

In the same way, for comparing a smaller group’s yearly training hours against a highly comprehensive group their separate means can be utilized. An instance would be to compare the mean number of yearly training hours for all employees and women. Students prefer to take Mean assignment help from us because our best assignment helpers never make any grammatical errors in our work.

The Kinds of Means

Some common kinds of means that people come across are:

  • Weighted mean – Weighted mean is common in statistics particularly when people study populations. When all the weights tend to be equal then it does become equal to the arithmetic mean.
  • Harmonic mean – Harmonic mean is utilized many times in physics. When the matter includes ratios and rates then it provides an improved average in comparison to the arithmetic mean. Additionally, you will also find its use in finance, computer science, and geometry.
  • Geometric mean – Geometric mean has very specific and narrow uses in technology, social sciences, and finance. For instance, when a person owns stocks that earn him 5 percent in the 1st year, 20 percent in the 2nd year, and 10 percent in the 3rd year and he wishes to become aware of the average rate of return then he can utilize the arithmetic mean.
  • Root-Mean square – This is highly useful in some fields that study sine waves, such as electrical engineering and this specific kind is also known as the quadratic average.

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The Method of Calculating Mean

You can calculate the mean when you add the worth of every item present in a group before dividing it by the items’ total number in the group. For instance, when a person is at a meeting of ten people and the addition of all attendees’ age is 420 then the mean age of attendees would be 420 divided by 42 or 10. Commonly, mean works as a common indicator for data. It works the best in the absence of too many outliers.

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