Application Of Different Types Of Mean [In Statistics] [Geometric Mean] [Harmonic Mean]

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The video is useful to understand the application of different types of Mean like the Geometric Mean and the Harmonic Mean in real-life scenarios.
The Geometric Mean and the Harmonic Mean like Mean, Median and Mode are measures of central tendency. Both these types of Mean though used less frequently are significant in their application in specific scenarios.
Along with providing a real-life application of these 2 different types of mean, the video also explains the concept for these Mean.
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Опубликовано:

15 окт 2024

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Комментарии : 26

@aleeshasajjad1510 Год назад

Sir.... please clear my query... why can't Geometric Mean and Harmonic mean be of negative values?? Like if we have negative values, we can still calculate it ... and we can also make amendments in the formula like adding one to each value then subtracting that 1 in the end.... "it can be calculated for negative values na" or else how can we calculate daily stock returns... they have negative values too... and Arithmetic Mean isn't suitable for it

@LearningPuree Год назад

Yes. For GM, the workaround you have mentioned is often used for special cases. Often we also do use a the concept of CAGR in such cases. In so far, as the HM is concerned, HM is used when we use "rates" which are almost always positive e.g. speed is a rate (2 numbers with different units). There are extremely special and rare instances when a rate can be negative e.g. internal bank interest rates in case of severe or impending deflationary trends. However, they are internal to the institution and does not involve the consumer directly. The treatments are a little different. Yes, sometimes the same workaround is employed here as well. Hope this clarifies.

@dollyarora2596 2 года назад

Helped in clearing my exam easily :), So thankful

@LearningPuree 2 года назад

Glad it helped! Most welcome!!

@mishababbaz3469 3 года назад

Sir, can you Give an idea about skewnes n kurtosis

@LearningPuree 3 года назад

Thanks for your response @Mishab Abbaz. I can definitely do a video on skewness and kurtosis. However, I have observed that in practical terms, measures of spread used alongside graphical representation provide a stronger sense of shape (tails) and symmetry. Skewness and Kurtosis will largely satisfy an academic perspective. Let me know if you want me to take it up separately.

@mishababbaz3469 3 года назад

@@LearningPuree okey sir, I refer your channel for net/jrf commerce Preparation. I apreciate your initiative of experiential learning

@jatinjatin484 10 месяцев назад

Thanks Sir. Cleared the concept. What's your profession btw.

@LearningPuree 9 месяцев назад

Appreciate it. Solution consultant.

@unknownsm23 Год назад

Sirr... I don't know how to thank you... But really really gooddd

@LearningPuree Год назад

Glad it was helpful!

@mayomayo9557 2 года назад

Please sir how did you get 7.56%? You got 27.08 as the average in the first example when you showed that AM can be used in rate of returns

@LearningPuree 2 года назад

The figure of 7.56% is the arithmetic mean for the column "Rate of Returns %". 27.08 is the (notional) average amount received across 5 years. The idea in this example is to convey that both these figures are inaccurate to depict the "Average Growth Rate". The correct method will be to use the GM for the calculation. The same gets clarified going ahead on the example.