How to Solve and Calculate the Mean or Average of Discrete and Continuous Numbers

Mean is a measure of central tendency and is considered to be a very important parameter of statistics. Mean or Average is the sum of the data sets or numbers or values divided by the number of numbers or data sets or values.

What is a discrete number?

A discrete number is a standalone number. It might be a whole number or fractional number but it stands on its own with no extension or range. An example of a discrete number is 5, 12, 10.6, 17, 20

What is a continuous number?

A continuous number is a range of numbers packaged as a single entity. An example of a continuous number is 5 – 10, 20 – 30, 25 – 50.

There are two possibilities in calculating the mean of a set of discrete numbers. One can either compute the mean via the application of frequency or no frequency at all.

For Example: A set of discrete numbers such as these:

4, 5, 6, 7, 8, 9

These numbers all occur once and have a frequency of 1 per number.

Therefore, if you want to create a table for the number and frequency, it looks like this:

Number        4, 5, 6, 7, 8, 9

Frequency    1, 1, 1, 1, 1, 1

You can clearly see that there is no need for applying frequency to calculate the mean of the above set of numbers. Application of frequency on a large set of numbers makes it easier to organize and compute the mean.

Now, for a set of numbers such as these:

4, 4, 4, 2, 4, 5, 3, 3, 3, 2, 1, 1, 6, 4, 3, 2, 4, 2, 5, 2, 1

You can see that some of the discrete numbers occur more than once and this implies that application of frequency is useful and makes the computing of mean easier and comprehensive.

From the display of numbers above you can see that the number 4 occurred times, the number 2 occurred times, the number 5 occurred 2 times, the number 3 occurred 4 times, the number 1 occurred 3 times, the number 6 occurred 1 time.

Read more

Why Should Everyone Use Nickzom Calculator?

Nickzom Calculator

 

The Nickzom Calculator has been in existence since 2013, launched on the 2nd of December, and has had major developments in its functionality till date with the Pro version Nickzom Calculator+ coming in place. This app is user friendly, easy navigation and requires no Internet connection after installation. Not enough, there’s more.

The Nickzom Calculator is a web, mobile and desktop platform that solves calculation problems and display the steps of the solution right to the final answer.

Now imagine you have a calculation to solve and you do not know how to go about it or you have consulted your textbook to see how various questions are solved and you’re utterly disappointed because, they solved only the simpler ones, or you don’t just get how the problem was solved. It is because of situations like this that Nickzom Calculator exists. This app solves calculations on Mathematics, Physics, Engineering, Chemistry, Finance, Accounting, Geology, Economics, Unit Conversions etcetera for quick and easy understanding.

Read more

Nickzom Calculator Solves Future Value Calculations

Nickzom Calculator Solves Future Value Calculations

According to Investopedia,

Future value (FV) is the value of a current asset at a specified date in the future based on an assumed rate of growth.

If, based on a guaranteed growth rate, a $10,000 investment made today will be worth $100,000 in 20 years, then the FV of the $10,000 investment is $100,000. The FV equation assumes a constant rate of growth and a single upfront payment left untouched for the duration of the investment.

According to Wikipedia,

Future value is the value of an asset at a specific date. It measures the nominal future sum of money that a given sum of money is “worth” at a specified time in the future assuming a certain interest rate, or more generally, rate of return; it is the present value multiplied by the accumulation function. The value does not include corrections for inflation or other factors that affect the true value of money in the future. This is used in time value of money calculations.

Nickzom Calculator+ (Professional Version) – The Calculator Encyclopedia has a Future Value Calculator this calculator requires certain parameters such as:

  • Number of Periods
  • Starting Amount
  • Interest Rate
  • Periodic Contribution
  • Contribution at the beginning or end of each payment.

Read more

The Calculator Encyclopedia Converts Units of Universal Fuel Economy

The Calculator Encyclopedia Converts Units of Universal Fuel Economy

Nickzom Calculator converts 4 units in fuel economy such as:

  • US Miles per gallon
  • UK Miles per gallon
  • Kilometers per liter
  • Liters per 100 Kilometers

According to Wikipedia – Fuel Economy in Automobiles,

The fuel economy of an automobile relates distance traveled by a vehicle and the amount of fuel consumed. Consumption can be expressed in terms of volume of fuel to travel a distance, or the distance travelled per unit volume of fuel consumed. Since fuel consumption of vehicles is a significant factor in air pollution, and since importation of motor fuel can be a large part of a nation’s foreign trade, many countries impose requirements for fuel economy.

For the purpose of this post, let’s convert US Miles per gallon to Kilometers per liter.

Read more