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JAMB Economics 2011 Question 4

Question 4

Tools of Economic Analysis

A major disadvantage of the arithmetic mean is that it is

  1. A.not useful for large data
  2. B.not suitable for further statistical analysis
  3. C.cumbersome to determine the actual value
  4. D.affected by extreme values.
Show the answer and explanation

Answer: D (affected by extreme values.)

Explanation

Because the mean uses every value, one very large or very small value can pull it far from the typical value.