The formula to calculate the Group Rate (GR) is:
\[ GR = IR - \frac{IR \times D}{100} \]
Where:
The Group Rate is the discounted rate offered to a group of individuals. It is calculated by applying a discount percentage to the individual rate. This metric is useful for businesses and organizations to offer special pricing for group bookings or purchases.
Let's say the individual rate (IR) is $100, and the group rate discount (D) is 20%. Using the formula:
\[ GR = 100 - \frac{100 \times 20}{100} = 80 \]
So, the group rate (GR) is $80.
Definition: Calculates the average share price for a group of stocks.
Formula: \( \text{Average Price} = \frac{\sum \text{Share Prices}}{\text{Number of Shares}} \)
Example: \( \text{Average Price} = \frac{100 + 200 + 300}{3} \)
Definition: Calculates statistical measures for grouped data.
Formula: \( \text{Mean} = \frac{\sum (f \cdot x)}{\sum f} \)
Example: \( \text{Mean} = \frac{(2 \cdot 10) + (3 \cdot 20) + (5 \cdot 30)}{2 + 3 + 5} \)
Definition: Calculates the range for grouped data.
Formula: \( \text{Range} = \text{Upper Limit} - \text{Lower Limit} \)
Example: \( \text{Range} = 100 - 10 \)
Definition: Calculates rates and ratios for given data.
Formula: \( \text{Rate} = \frac{\text{Quantity 1}}{\text{Quantity 2}} \)
Example: \( \text{Rate} = \frac{50}{10} \)
Definition: Calculates the percentage of each group in R.
Formula: \( \text{Percentage} = \left( \frac{\text{Group Value}}{\text{Total Value}} \right) \times 100 \)
Example: \( \text{Percentage} = \left( \frac{20}{100} \right) \times 100 \)
Definition: Calculates various statistics for grouped data.
Formula: \( \text{Variance} = \frac{\sum f (x - \bar{x})^2}{\sum f} \)
Example: \( \text{Variance} = \frac{(2 \cdot (10 - 20)^2) + (3 \cdot (20 - 20)^2) + (5 \cdot (30 - 20)^2)}{2 + 3 + 5} \)
