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A practical guide to averaging functions

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posted on 2016-01-01, 00:00 authored by Gleb BeliakovGleb Beliakov, H S Bustince, T C Sanchez
Averaging is ubiquitous in many sciences, engineering, and everyday practice. The notions of the arithmetic, geometric, and harmonic means developed by the ancient Greeks are in widespread use today. When thinking of an average, most people would use arithmetic mean, “the average”, or perhaps its weighted version in order to associate the inputs with the degrees of importance. While this is certainly the simplest and most intuitive averaging function, its use is often not warranted. For example, when averaging the interest rates, it is the geometric and not the arithmetic mean which is the right method. On the other hand, the arithmetic mean can also be biased for a few extreme inputs, and hence can convey false meaning. This is the reason why real estate markets report the median and not the average prices (which could be biased by one or a few outliers), and why judges’ marks in some Olympic sports are trimmed of the smallest and the largest values.

History

Volume

329

Series

Studies in fuzziness and soft computing

Pagination

1 - 352

Publisher

Springer

Place of publication

Cham, Switzerland

ISSN

1434-9922

eISSN

1860-0808

ISBN-13

9783319247519

Language

eng

Publication classification

A Book; A1 Books - authored - research

Copyright notice

2016, Springer

Number of chapters

8

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