Numerical Methods Part 2 M1A:4

Question 1

Sometimes some measurements are more important than others. This allows you to assign numerical importance to the data

Answer 1

Weighted mean

Question 2

Calculating a weighted average versus a arithmetic average explain

Answer 2

Arithmetic average is adding all number and dividing by the amount.

Weighted average (if units are being tallied but each has a different volume the standard mean won’t be correct) calculate all the profits times their volumes then divide it by the volumes per day amount

Question 3

Data already categorized into a frequency distribution or histogram is called what?

Can you still calculate a mean and variance of raw data is not available

Answer 3

Grouped data

Yes but they are slightly different for data from sample and data from population

Question 4

When is it important to apply the geometric mean?

Answer 4

When looking at percent change over time.

= (n-1) square (current revenue/previous year)(current revenue/previous year..)

Don’t round your answer. Take it out 4 from the decimal

The n-1 = taking away the first year because you won’t have revenue growth