In Part 1 I mentioned that John McCarthy, computer and cognitive scientist who coined the term “artificial intelligence” stated…”he who refuses to do arithmetic is doomed to talk nonsense.”

Recently I wrote about KPIs, Key Performance Indicators.  In Part 1 of this series, I presented a few ratios that might be your KPIs, or a part of your overall watchfulness of the numbers in your business.  In this post I’m going to review some calculations to determine what typically happens in your business.  There are four common methods of calculating a typical value: mean, median, mode and midrange.  Don’t run – stick with me – it will be painless, I promise, and if you need more help, call for an appointment to work on the numbers for your business. Continue reading →