00:01
Once again, welcome to a new problem.
00:05
This time we're dealing with averages.
00:09
We're dealing with averages.
00:11
Or, in other words, we're dealing with means.
00:15
And to be specific, we're thinking about the geometric mean.
00:21
So there is one, the geometric mean, and there's also the arithmetic mean.
00:26
When we are looking at the geometric mean, what tends to happen is that it's going to be some type of average.
00:36
So the geometric mean is some type of average involving or involves growth rates.
00:46
So you're looking at an average that typically involves growth rates.
00:52
And the growth that you're looking at is population growth.
00:57
That's an example of a growth rate.
01:00
You're also looking at interest rate growth.
01:07
And besides interest rate growth, we can also start to talk about, we could talk about growth in a number of users, a number of users utilizing a specific piece of technology.
01:36
So you're looking at the number of users utilizing a specific piece of technology.
01:43
The other option that you have in terms of averages is the arithmetic mean and the arithmetic mean has an alternate meaning such that it adds items and divides by the total.
02:10
So if i was going to write out a specific formula for arithmetic mean, i could say x bar equals to x1 plus x2 plus x3 all the way up until x8.
02:24
And then divided by n.
02:27
On the other hand, when it comes to geometric mean, when you're looking at the geometric mean, is a little bit different.
02:36
I can take all the values, all specific values.
02:44
And when i'm looking at all these values, n items from the first one, xi, 1 over n.
02:53
And you're going to see.
02:55
That you still need to account, you still need to account for all the items that you're adding up, so a1, a2.
03:11
So that's an example.
03:13
When we're looking at the growth of technology, for example, i could get a geometric mean, the same as n, a stat value, a start value over an end value and then i want to subtract one.
03:35
So we are looking at a new problem.
03:39
And well actually this one is the opposite.
03:42
So you know we want to say end value versus stat value.
03:47
So it's it's the opposite.
03:50
You know, we're looking at the end value and the stat value options and so this is the end value and the stat value and then we have those options.
04:16
We're looking at a new problem and in this particular problem.
04:22
In 2001 we had 40 ,000, 40 ,200 or 40 million, 250 ,000 people filed their taxes from an electronic point of view.
04:38
Remember when you're filing your taxes, you could use a paper document analog as opposed to the digital way of filing taxes...