Explain the difference between Arithmetic mean, Harmonic mean, and Geometric mean.

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Accepted Answer

Arithmetic mean is the sum of all values divided by the number of values. Harmonic mean is the reciprocal of the arithmetic mean of the reciprocals of the values. Geometric mean is the nth root of the product of n values.

Arithmetic mean is most commonly used and is calculated by summing all values and dividing by the number of values.
Harmonic mean is used when dealing with rates or ratios, and is calculated by taking the reciprocal of the arithmetic mean of the reciprocals of the values.
Geometric mean is used for calculating growth rates or ratios, and is calculated by taking the nth root of the product of n values.
Example: For numbers 2, 4, and 8 - Arithmetic mean = (2+4+8)/3 = 4, Harmonic mean = 3/(1/2 + 1/4 + 1/8) = 3/(1/8) = 6, Geometric mean = (2*4*8)^(1/3) = 4

Explain the difference between Arithmetic mean, Harmonic mean, and Geometric mean.

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