Relationships Among Total, Average, and Marginal Data.
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Relationships Among Total, Average, and Marginal Data
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Transcript of Relationships Among Total, Average, and Marginal Data.
Relationships Among Total, Average, and
Marginal Data
Copyright© 2006 Southwestern/Thomson Learning All rights reserved.
Relationships Among Total, Average, and Marginal DataRelationships Among Total, Average, and Marginal Data
● Or, to put equivalently,
● Total = average the number of units
● Or, to put equivalently,
● Total = average the number of units
UnitsofNumber
TotalAverage
Copyright© 2006 Southwestern/Thomson Learning All rights reserved.
Relationships Among Total, Average, and Marginal DataRelationships Among Total, Average, and Marginal Data
● Marginal value of the X-th unit = total value of x units - total value of (X − 1) units.
● Total value of X units = sum of marginal values of the first X units.
● Marginal value of the X-th unit = total value of x units - total value of (X − 1) units.
● Total value of X units = sum of marginal values of the first X units.
TABLE 1: Weights of Persons in a Room (in pounds)
TABLE 1: Weights of Persons in a Room (in pounds)
Copyright © 2006 South-Western/Thomson Learning. All rights reserved.
Copyright© 2006 Southwestern/Thomson Learning All rights reserved.
● The marginal, average and total values for the first unit are usually equal.♦ If marginal < average, the average is falling.
♦ If marginal > average, the average is rising.
♦ If marginal = average, the average is constant; that is, the average is at a maximum or minimum.
● The marginal, average and total values for the first unit are usually equal.♦ If marginal < average, the average is falling.
♦ If marginal > average, the average is rising.
♦ If marginal = average, the average is constant; that is, the average is at a maximum or minimum.
Relationships Among Total, Average and Marginal DataRelationships Among Total, Average and Marginal Data
FIGURE 1: Relationship Between Marginal and Average Curves
FIGURE 1: Relationship Between Marginal and Average Curves
Copyright © 2006 South-Western/Thomson Learning. All rights reserved.
F
E
A D
B
C
Average weight
Marginal weight
Mar
gin
al a
nd
Ave
rag
e W
eig
ht
(po
un
ds)
Number of Persons
6 5 4 3 2 1 0
50
100
150
