From the data given, calculate the mean bias in percentage, the value of MAR, and tracking signal for each periodPeriod12345678Estimate17921791517643864170Actual16324067787142349157

Name: From the data given, calculate the mean bias in percentage, the value
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Description: From the data given, calculate the mean bias in percentage, the value of MAR, and tracking signal for each periodPeriod12345678Estimate17921791517643864170Actual16324067787142349157

The bias for each level is calculated by subtracting the calculated mean (Y values) from the…

Answered: From the data given, calculate the mean…

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section: Chapter Questions

Problem 11PT

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From the data given, calculate the mean bias in percentage, the value of MAR, and tracking signal for each period

Period	1	2	3	4	5	6	7	8
Estimate	179	217	91	51	76	438	64	170
Actual	163	240	67	78	71	423	49	157

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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