This is a followup post to geometric mean post.
What exactly is Harmonic mean ?
Well to summarize the wikipedia link, it is basically a way to average of rates of a some objects.
Continuing with the Laptop, example , let’s see how to compare the laptops in terms of best bang for the buck.
Once again, we have three attributes and we divide the attribute values by the cost of the laptop. Now this will give us (rather approximately) how much GB/Rupee* we get.
The we apply the formula for harmonic mean.: i.e: 3/(1/x1 + 1/x2 +1/x3).
Just for the fun of argumentation, I threw in a Raspberry Pi 2 + cost of 32 GB SD Card inside.
And Of course** the Raspberry Pi 2 comes out on top on the Harmonic mean(of most bang for the buck) ranking..
Note, how i divided the attributes by cost. In other words, I did that because harmonic mean doesn’t make sense to apply to values that are not rates. (aka, for the engineers, the units have to have a denominator.)
Also note that, the Raspberry Pi 2 is lower in both the arithmetic and geometric means of the attributes(CPU speed, Disk space, RAM), but higher when it comes to value per price. That’s one reason to use harmonic mean of rates (of price/time/) when comparing similar purchases, with multiple attributes/values to evaluate.
Now, so far these are all individual attributes, that don’t talk about or evaluate other factors.
Like for example the apple’s retina display technology. Or for that matter, CPU Cache, or AMD vs Intel processor, Or multithreading support, Or number of cores etc..
All of these could be weighted, if you do know how to weight them. And weighting them right would require some technical knowledge, and reading up reviews of products with those features on anandtech’s reviews/comparison blog posts.
* — If you look closely at the Excel sheet, I’d have multiplied the GHz by 1000, and get KHz to get the numbers in a decent level.
** — Of course, because, it doesn’t come with a monitor, keyboard or mouse. It is simply a PCB chip.