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Earn +20 ptsQ: What is the average of a given set of data?
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When will the geometric average return exceed the arithmetic average return for a given set of returns?
Never. The geometric return is always lower than the arithmetic average returns unless the returns for the given set of data are all the same.
What is the difference between typical and average number?
An average number is most commonly defined as the quotient of the sum of all numbers in a set and the total numbers in the set. A typical value for a set of data is usually given by the average (mean) or median.
What is data instance that is not typical for a given set of data?
An outlier.
What does mode for the set of data mean?
The mode of the data is the number which occurs most frequently in the given set of data.
How do you work out the avarge in maths?
The average is the sum of all of the numbers in a data set DIVIDED by the number of numbers in the data set. Therefore, given the following set of numbers 5 5 7 8 10 The average would be (5 + 5 + 7 + 8 + 10) / 5 which will give you 7. so the average is 7
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