BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mean
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Median
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Mode
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Range
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Detailed explanation-1: -The arithmetic mean, also known as arithmetic average, is the sum of all the values in a list of numerical values divided by the number of items in the list. For example, if we have the two values, eight and six, then their arithmetic average is: 8 + 6 / 2 = 7.
Detailed explanation-2: -In mathematics and statistics, the arithmetic mean ( /ˌærɪˈmɛtɪk ˈmiːn/ 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.
Detailed explanation-3: -An average is defined as the sum of all the values divided by the total number of values in a given set. It is also known as the arithmetic mean.
Detailed explanation-4: -What is Arithmetic Mean? Arithmetic mean represents a number that is obtained by dividing the sum of the elements of a set by the number of values in the set.
Detailed explanation-5: -True. The arithmetic mean of a data set is equal to the average of that data set because arithmetic mean is a tool to calculate average.