Commerce Exam > Commerce Questions > What is the Arithmetic Mean, and what is its ...
Start Learning for Free
What is the Arithmetic Mean, and what is its primary objective?
- a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.
- b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.
- c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.
- d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.
Correct answer is option 'B'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Most Upvoted Answer
What is the Arithmetic Mean, and what is its primary objective?a)The A...
The Arithmetic Mean:
The Arithmetic Mean, also known as the average, is a measure of central tendency that is commonly used in statistics to summarize a set of numerical data. It represents the typical value or the central value of a dataset. The arithmetic mean is calculated by adding up all the values in a series and then dividing the sum by the total number of items in the series.
Primary Objective:
The primary objective of the arithmetic mean is to facilitate comparisons between different data sets. By calculating the average, we can obtain a single value that represents the general tendency of the data. This simplifies data representation and allows for easier interpretation and analysis.
Calculating the Arithmetic Mean:
To calculate the arithmetic mean, we follow these steps:
1. Add up all the values in the series.
2. Count the total number of items in the series.
3. Divide the sum of the values by the total number of items.
This can be represented mathematically as:
Arithmetic Mean = (Sum of Values) / (Total Number of Items)
Example:
Let's consider the following dataset: 10, 15, 20, 25, 30.
To find the arithmetic mean, we add up all the values: 10 + 15 + 20 + 25 + 30 = 100.
Next, we count the total number of items in the series, which is 5.
Finally, we divide the sum of the values (100) by the total number of items (5):
Arithmetic Mean = 100 / 5 = 20.
Therefore, the arithmetic mean of the given dataset is 20.
Importance and Interpretation:
The arithmetic mean is widely used in various fields such as finance, economics, and research. It provides a concise representation of data and allows for comparisons between different datasets. By calculating the average, we can understand the central tendency of the data and make meaningful interpretations.
However, it is important to note that the arithmetic mean can be influenced by extreme values, also known as outliers. In such cases, it may be necessary to consider other measures of central tendency, such as the median or mode, to get a more accurate representation of the data.
In conclusion, the arithmetic mean is a valuable statistical tool that simplifies data representation and facilitates comparisons between different datasets. It is calculated by adding up all the values in a series and dividing by the total number of items.
The Arithmetic Mean, also known as the average, is a measure of central tendency that is commonly used in statistics to summarize a set of numerical data. It represents the typical value or the central value of a dataset. The arithmetic mean is calculated by adding up all the values in a series and then dividing the sum by the total number of items in the series.
Primary Objective:
The primary objective of the arithmetic mean is to facilitate comparisons between different data sets. By calculating the average, we can obtain a single value that represents the general tendency of the data. This simplifies data representation and allows for easier interpretation and analysis.
Calculating the Arithmetic Mean:
To calculate the arithmetic mean, we follow these steps:
1. Add up all the values in the series.
2. Count the total number of items in the series.
3. Divide the sum of the values by the total number of items.
This can be represented mathematically as:
Arithmetic Mean = (Sum of Values) / (Total Number of Items)
Example:
Let's consider the following dataset: 10, 15, 20, 25, 30.
To find the arithmetic mean, we add up all the values: 10 + 15 + 20 + 25 + 30 = 100.
Next, we count the total number of items in the series, which is 5.
Finally, we divide the sum of the values (100) by the total number of items (5):
Arithmetic Mean = 100 / 5 = 20.
Therefore, the arithmetic mean of the given dataset is 20.
Importance and Interpretation:
The arithmetic mean is widely used in various fields such as finance, economics, and research. It provides a concise representation of data and allows for comparisons between different datasets. By calculating the average, we can understand the central tendency of the data and make meaningful interpretations.
However, it is important to note that the arithmetic mean can be influenced by extreme values, also known as outliers. In such cases, it may be necessary to consider other measures of central tendency, such as the median or mode, to get a more accurate representation of the data.
In conclusion, the arithmetic mean is a valuable statistical tool that simplifies data representation and facilitates comparisons between different datasets. It is calculated by adding up all the values in a series and dividing by the total number of items.
Free Test
FREE
| Start Free Test |
Community Answer
What is the Arithmetic Mean, and what is its primary objective?a)The A...
The Arithmetic Mean, denoted by X, is calculated by adding up all the values in a series and dividing the sum by the total number of items in the series. Its primary objectives include simplifying data representation, facilitating comparisons between data sets, aiding in decision-making, and serving as a basis for policy formulation. It provides a single value that represents the central tendency of the data.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Similar Commerce Doubts
Top Courses for CommerceView all
What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer?
Question Description
What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer?.
What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer?.
Solutions for What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice What is the Arithmetic Mean, and what is its primary objective?a)The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.b)The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.c)The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.d)The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup