Evaluate alternative definitions of mean to address an investment problem.
Arithmetic mean is used to estimate expected value, or the value of a single outcome from a distribution.
Geometric mean is used calculate or estimate periodic compound returns over multiple periods.
Harmonic mean is used to calculate the average price paid with equal periodic investments.
A trimmed mean omits outliers and a winsorized mean replaces outliers with given values, reducing the effect of outliers on the mean in both cases.
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