The Geometric mean is a special types of average where we calculate the root of the product of a value of a set of observations. It is usually used to define various types of growth rates such as population growth, interest rates…

## Harmonic Mean definition, formula and applications

The harmonic mean is the inverse of the arithmetic mean of the reciprocals of the observations of a set. It is a type of average generally used for numbers that represent a rate or ratio such as the precision and the…

## Arithmetic Mean definition, formula and applications

Mean is the central value of all the observation which are included in a study. There are various types of mean exist. They are arithmetic mean, geometric mean, harmonic mean etc. Definiton The arithmetic mean of a set of data…