The simple definition of a mean is that of a numeric quantity which represents the center of a collection of numbers. Here the trick lies in defining the exact type of numeric collection, as beyond ...

Discover why investors prefer the geometric mean for assessing portfolio performance due to its compounding effect, and learn how it differs from the arithmetic mean.

The purpose of the Institute of Mathematical Statistics (IMS) is to foster the development and dissemination of the theory and applications of statistics and probability. The Institute was formed at a ...

An unfortunate misinterpretation of Canadian case law has discouraged appraisers from using the arithmetic mean to average sale values. Appraisers should have no reservations about averaging sales ...