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STA 111 lesson
Use harmonic and geometric means to solve and interpret a specified problem.
Source note: corrected against the supplied pages.
STA111-T07-L02; Source: T18-21 | Course topic 7
For positive values, the harmonic mean H = n/∑(1/x) and the geometric mean G = (∏x) raised to the power of 1/n 1/n. H is useful for averaging rates over equal amounts, such as speeds over equal distances. G is useful for multiplicative growth factors. For positive observations, H ≤ G ≤ arithmetic mean, with equality when all observations are equal. Do not use G directly on negative growth percentages; convert percentages to positive growth factors first.