I only knew of the arithmetic mean until I came across the harmonic mean while studying F-scores in binary classification.
To me, the arithmetic mean makes the most intuitive sense, and I can't get an intuitive grasp of the harmonic mean and geometric mean yet. Are there any other areas they are used in?
The geometric mean is used in modern definitions of inflation (in the UK, this is the "consumer price index" rather than the older "retail price index", which used the arithmetic mean). There are various justifications for this change, the real reason is the GM-AM inequality.
To me, the arithmetic mean makes the most intuitive sense, and I can't get an intuitive grasp of the harmonic mean and geometric mean yet. Are there any other areas they are used in?