Find the mean, S² and Std deviation of the rural household income data set summarised as below in the picture
Transcribed Image Text:5:59 Y ↑
Class interval
(MK)
1-5000
5001-10000
10001-15000
+265 999 12 22 67
Yesterday, 22:02
15001-20000
Income
midpoint,
2500.5
7500.5
12500.5
17500.5
20001-25000. 22500.5
Frequency,
f
50
35
20
10
5
xf
125025
262517.5
250010
175005
112502.5
22) ا ال...
x-x
-5208.33
-208.83
4G
4792.67
9791.67
14791.67
(x-x)¹ƒ
1356335069
1526348.91
459202028
958768014
1093967507
Find the mean, S² and Std deviation
of the rural household income data
set summarised as above.
Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...
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