Answer to Question #338449 in Statistics and Probability for Ric

Question

1.1 For the periods 2014 to 2019, ESKOM’s electricity percentage price adjustments are given in the following table:

2014/15 2015/16 2016/17 2017/18 2018/19

7.05%

31.70%

8.18%

1.62%

2.82%

Table 1: Average percentage price adjustments

a) Find the Average (arithmetic mean) percentage price adjustment from 2014 to 2019.

b) Find the Geometric Mean for the same period.

c) Use your answer in a) and b) above to comment on the differences between the two means. What is the effect of outliers on both the two means?

Answer 1

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