![]() □ Harmonic mean: is the reciprocal of the arithmetic mean of input values. The growth rate of this investment is power of 1/3 = 1.15, and the annual return rate is 15%. For example, if you want to compute the annual return rate from your investment in 3 years in which you get a 20% profit in the 1st year, -12% loss in the 2nd year and 45% profit in the 3rd year. ![]() □ Geometric mean: is defined as the nth root of the product of n numbers and is often used to calculate the growth rate of an investment. Usually, in a course, students have to do a number of assignments, projects, and exams, each of which may have a different weight and the final score the students have at the end is the weighted mean of these scores. A typical example of weighted mean is to compute score of a course students learn at school. □ Weighted mean: is used when certain input values are more important than the others and hence different weights are applied to different input values when computing the mean. However, beside arithmetic mean, there are other types/definitions of mean which are also popular. ![]() This is the most common definition of mean and is called the arithmetic mean. We all know the definition of mean as the average of input values. ![]()
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