Mean, Median, Harmonic Mean: Which Is Best?

Business Valuation UpdateVol. 21 No. 1
January 2015
Robert M. Dohmeyer, ASA
Herbert Kierulff, Ph.D.
Janae Castell, CVA


Practitioners and thought leaders are currently in disagreement about which of the three measures of central tendency best avoids bias in the data when using the market method. Some have advocated the harmonic mean over the mean and median as the superior ...