### Possible Answer

Arithmetic mean (the average) of a series of values can gives us a fairly decent estimate of the most probable value of a next input. For example in the group: 0, 3, 4, 6, 7, 7, 8 The average is 5. This gives us a good estimate of what we should expect a value to be. However, 5 does not appear ... - read more

Merits : It is rigidly defined. It is easy to calculate and simple to follow. It is based on all the abservations. It is determined for almost every kind of data. It is finite and not indefinite. It is readily put to algebraic treatment. It is least affected by fluctuations of sampling. Demerits ... - read more

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