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When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these?
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When the means of different series are computed jointly it is known as...
Combined Mean
The combined mean refers to the calculation of the mean of two or more different series when they are combined or taken together. It is also known as the weighted mean or aggregate mean. In this method, the values of the variables in the different series are added together and divided by the total number of observations. The combined mean is a useful tool in statistics as it enables the comparison of data from different sources and can provide a more accurate picture of the overall trends.
Calculation of Combined Mean
The formula for calculating the combined mean is as follows:
Combined mean = (Σfx) / (Σf)
Where Σfx is the sum of the values multiplied by their respective frequencies, and Σf is the sum of the frequencies of the different series.
Example of Combined Mean
For example, suppose we have two different series of data, with the following values and frequencies:
Series 1: 10, 15, 20, 25 with frequencies 2, 3, 4, 1 respectively
Series 2: 5, 10, 15, 20, 25 with frequencies 1, 3, 4, 5, 2 respectively
To calculate the combined mean of the two series, we first calculate the values of Σfx and Σf as follows:
Σfx = (10x2) + (15x3) + (20x4) + (25x1) + (5x1) + (10x3) + (15x4) + (20x5) + (25x2) = 710
Σf = 2 + 3 + 4 + 1 + 1 + 3 + 4 + 5 + 2 = 25
Therefore, the combined mean is:
Combined mean = Σfx / Σf = 710 / 25 = 28.4
Conclusion
In conclusion, the combined mean is a useful statistical tool for analyzing data from different sources. By combining different series, it provides a more accurate picture of the overall trends and enables comparison between different data sets.
The combined mean refers to the calculation of the mean of two or more different series when they are combined or taken together. It is also known as the weighted mean or aggregate mean. In this method, the values of the variables in the different series are added together and divided by the total number of observations. The combined mean is a useful tool in statistics as it enables the comparison of data from different sources and can provide a more accurate picture of the overall trends.
Calculation of Combined Mean
The formula for calculating the combined mean is as follows:
Combined mean = (Σfx) / (Σf)
Where Σfx is the sum of the values multiplied by their respective frequencies, and Σf is the sum of the frequencies of the different series.
Example of Combined Mean
For example, suppose we have two different series of data, with the following values and frequencies:
Series 1: 10, 15, 20, 25 with frequencies 2, 3, 4, 1 respectively
Series 2: 5, 10, 15, 20, 25 with frequencies 1, 3, 4, 5, 2 respectively
To calculate the combined mean of the two series, we first calculate the values of Σfx and Σf as follows:
Σfx = (10x2) + (15x3) + (20x4) + (25x1) + (5x1) + (10x3) + (15x4) + (20x5) + (25x2) = 710
Σf = 2 + 3 + 4 + 1 + 1 + 3 + 4 + 5 + 2 = 25
Therefore, the combined mean is:
Combined mean = Σfx / Σf = 710 / 25 = 28.4
Conclusion
In conclusion, the combined mean is a useful statistical tool for analyzing data from different sources. By combining different series, it provides a more accurate picture of the overall trends and enables comparison between different data sets.
Community Answer
When the means of different series are computed jointly it is known as...
Correlated mean
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When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these?
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When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these?.
When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When the means of different series are computed jointly it is known as a) Corrected mean b) Combined mean c) Correlated mean d) None of these?.
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