List of top Economics Questions on Average

Harmonic mean of the following twelve observations: \(15, 20, 20, 5, 20, 20, 15, 20, 15, 20, 20,\) and \(20\) is (rounded off to one decimal place).

The arithmetic mean of consumption expenditures for \(5\) members is Rupees \(40\), with standard deviation of Rupees \(7\). Three new members are added in the group, and their consumption expenditures (in Rupees) are \(30\), \(35\), and \(40\). Then, the standard deviation of consumption expenditures of these \(8\) members is (rounded off to two decimal places).

Which one of the following is a relative measure of dispersion?

Match List-I with List-II \[\begin{array}{|c|c|} \hline \textbf{Concepts} & \textbf{Formula} \\ \hline \text{(A) Weighted Mean} & \text{(I) \(\frac{\sum_{i=1}^{n} w_i x_i}{\sum_{i=1}^{n} w_i}\)} \\ \hline \text{(B) Grand Mean of Combined Data} & \text{(II) \(\frac{\sum_{i=1}^{n} x_i}{n}\)} \\ \hline \text{(C) Harmonic Mean} & \text{(III) \(\frac{n}{\sum_{i=1}^{n} \frac{1}{x_i}}\)} \\ \hline \text{(D) Geometric Mean} & \text{(IV) \(\left( \prod_{i=1}^{n} x_i \right)^{1/n}\)} \\ \hline \end{array}\] Choose the correct answer from the options given below: