Environment and Development for Human Development- myassignmenthelp

Question: Discuss about theEnvironment and Development for Human Development Index. Answer: Introduction The geometric mean calculates the progression from a certain number of variables. It indicates the central value for the numbers by utilizing their products. Notably, it involves multiplying numbers and taking the root. For instance, for two numbers, the square root is taken. The arithmetic mean involves adding the numbers and dividing the sum, by their count. This paper examines the benefits of the geometric calculation of the mean of income, education and life expectancy components in UNDPs Human Development Index. According to (Aldaz, 2012) the geometric mean is best suited for data involving percentage changes. The approach provides an accurate representation of geometric values by considering year-by-year compounding. In this case, the UNDP's Human Development Index evaluates the life expectancy, education, and means of income because the components rely on annual measurements. Kadak Grefe (2016) suggest that the geometric mean is appropriate for social correlation this is especially true for means of income. For instance, the income for middle-income earners increased by 10 percent in year two, from year one. Notably, most finance-related subjects are correlated, for instance, stock returns, risk premiums, and bonds. Also, the UNHR HDI components may vary from a small number to a thousand fold, therefore, analyzing the vast data using the arithmetic mean is difficult. For instance, the average annual returns over five years cannot be examined by arithmetic average. References Aldaz, J. M. (2012). Sharp bounds for the difference between the arithmetic and geometric means. SpringerLink, 393-399. Grefe, U. K. (2016). A Generalization of Weighted Means and Convex Functions with respect to the Non-Newtonian Calculus. International Journal of Analysis, 9.