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Average of chords. In ordinary language, an average is a single number or value that best represents a set of data. The type of average taken as most typically representative of a list of numbers is the arithmetic mean – the sum of the numbers divided by how many numbers are in the list. For example, the mean average of the numbers 2, 3, 4, 7 ...
In mathematics and statistics, the arithmetic mean (/ ˌ æ r ɪ θ ˈ m ɛ t ɪ k / arr-ith-MET-ik), arithmetic average, or just the mean or average (when the context is clear) is the sum of a collection of numbers divided by the count of numbers in the collection. [1] The collection is often a set of results from an experiment, an ...
The harmonic mean is an average which is useful for sets of numbers which are defined in relation to some unit, as in the case of speed (i.e., distance per unit of time): ¯ = (=) For example, the harmonic mean of the five values: 4, 36, 45, 50, 75 is
The mean number chosen when playing the "guess 2/3 of the average" game four consecutive rounds. Grosskopf and Nagel's investigation also revealed that most players do not choose 0 the first time they play this game. Instead, they realise that 0 is the Nash Equilibrium after some repetitions. [14]
It is the most appropriate average for ratios and rates such as speeds, [1] [2] and is normally only used for positive arguments. [3] The harmonic mean is the reciprocal of the arithmetic mean of the reciprocals of the numbers, that is, the generalized f-mean with () =. For example, the harmonic mean of 1, 4, and 4 is
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The average percentage growth is the geometric mean of the annual growth ratios (1.10, 0.88, 1.90, 0.70, 1.25), namely 1.0998, an annual average growth of 9.98%. The arithmetic mean of these annual returns – 16.6% per annum – is not a meaningful average because growth rates do not combine additively.
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