List the strengths and weaknesses of the midrange. Give the EXCEL function of midrange.

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Answer 1

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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 + ...

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

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Answer 2

Question

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 + ...

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 3

Question

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 + ...

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Answer 4

Question

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 + ...

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 5

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Answer 6

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

Answer 7

Chapter 4, Problem 7CR

a.

To determine

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

Answer 8

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

Answer 9

b.

To determine

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

Answer 10

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Answer 11

c.

To determine

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

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List the strengths and weaknesses of the midrange. Give the EXCEL function of midrange.

Solution Summary: The author lists the strengths and weaknesses of the midrange and the geometric mean.

Concept explainers

Videos

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.

Want to see the full answer?

Chapter 4 Solutions

List the strengths and weaknesses of the midrange. Give the EXCEL function of midrange.

Solution Summary: The author lists the strengths and weaknesses of the midrange and the geometric mean.

Concept explainers

Videos

List the strengths and weaknesses of the midrange. Give the EXCEL function of midrange.

List the strengths and weaknesses of the geometric mean. Give the EXCEL function of geometric mean.

List the strengths and weaknesses of the 10 percent trimmed mean. Give the EXCEL function of 10 percent trimmed mean.

Want to see the full answer?

Chapter 4 Solutions

List the strengths and weaknesses of the midrange.

Give the EXCEL function of midrange.

List the strengths and weaknesses of the geometric mean.

Give the EXCEL function of geometric mean.

List the strengths and weaknesses of the 10 percent trimmed mean.

Give the EXCEL function of 10 percent trimmed mean.