Types of Mean - AM,GM and HM

 In  this post we will see different types of mean ,their interrelation with each other and their interpretation...

Mean is of mainly  three different types the first one is arithmetic mean (AM),second one is geometric mean(GM) and  third one is harmonic mean(HM).
First we will see about the arithmetic mean.

Arithmetic mean (AM)
    In mathematics and statistics, the arithmetic mean is nothing but mean,is the sum of collection of number divided by the count of numbers in collection..

Let us take an example,the set of values is 10,20,30 
The arithmetic mean is 20.
This mean is mostly used to get rough idea or overview about data set.







Geometric mean(GM)
Geometric mean is type of average and is defined as"the n'th root of product of n numbers"
Geometric mean for 10,20,30 is 18.1712



Most important use of geometric mean is usually used in for growth rates like population growth rate.


Harmonic mean
Harmonic mean is the reciprocal of the average of reciprocals 
Example-Harmonic mean for 10,20,30 is 16.3636




Relation between AM,GM and HM 


We can elucidate the relation mathematically as 

AM>GM>HM(may be equal in some cases...)

THANKS FOR READING....

Content created by - Chandrashekhar Awate and Priyanka Pawar  

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