Calculate the mean percentage error in five observations, 80.0, 80.5, 81.0, 81.5 and 82.
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a
0.74%
b
1.74%
c
0.38%
d
1.38%
answer is A.
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Detailed Solution
Mean of the five observations μ=80.0+80.5+81.0+81.5+825=405.05=81∴ Mean error =|80-μ|+|80.5-μ|+|810-μ|+|815-μ|+|82-μ|5=|80-81|+|80.5-81|+|810-81|+|815-81+|82-815=1+0.5+0+0.5+15=35=0.6∴ Mean % error =0.681×100%=0.74%