The mean is sometimes called the arithmetic mean to distinguish it from other possible means. For example, a different mean, called the geometric mean (G.M.), is used in business and economics for finding average rates of change, average rates of growth, or average ratios. This mean is defined to be the nth root of the product of the numbers. For example, the geometric mean of the numbers 4, 5, and 6 is Find the arithmetic and geometric means for the numbers 2, 4, 5, 7, 7, 8 and 11.
Round your answers to the nearest hundredth, if necessary.
The arithmetic mean is
__________
The geometric mean is
__________
Correct Answer:
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