Thursday, April 7, 2011

Mean - Group 4

MEAN and its definition





what IS IT?
~> It is when we calculate the average (middle, divided equally) of a range of numbers.
~>It is the total value of the data divided by the total number of data.




Average
~> The sum of a set of data divided by the number of data.
(Do not round your answer unless directed to do so.)






How is it used?
~>value for each group add together.
~> After that the total value of the groups divided by number of groups




Why is it used? You tell me why?! HUH??!!! TELL ME??
~>We use it to find out about how much one values among the others



When to use or NOT to use


Use mean
~> When trying to find the average progress of something as each product or object is very specific so using mean would be much simpler and also effective.



Not to use Mean
~> When one or two of the values have a big difference between the norm value.




Advantages & Disadvantages



Advantages
~> There is only one correct answer available
~> To compare sets of data
~> Most popular among business, engineering and computer science.
~> it is to find out the central progress of a certain group of objects.




Disadvantages

~> People who are lesser in value may be higher of value due to one particular higher valued person.
~> Same applies to the highest valued person, he/she may become lesser valued due to the others who are lesser valued. SO IT IS much lesser ACCURATE FOR INDIVIDUAL VALUE.





Formula for finding the MEAN
~> Total value of all groups divided by the number of objects. (need not be people as the units)

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