Explain the uses of arithmetic mean.

1.	Explain the uses of arithmetic mean.
Answer» Since among all statistical means, arithmetic mean is more simple and simple to calculate, it is more useful for study of economic and social problems. It is of extensive use in determining average production, average investment (cost), average income, average import-export, average bonus, etc. Despite effect of extreme values, unrepresentative nature, misleading results being its disadvantages, arithmetic mean can be considered to be the ideal mean.

Discussion