Given data: \(\frac 14, \frac 12, \frac 34, \frac 32, \frac 54\)
Sum of observations = \(\frac 14+\frac 12+ \frac 34+\frac 32+\frac 54\)
\(= \frac{1 +2 + 3 + 6+ 5}4\)
\(= \frac{17}4\)
Number of observation = 5
\(\therefore \) Arithmetic Mean = \(\frac{\text{Sum of observation}}{\text{Number of observations}}\)
\(= \frac{\frac{17}{4}}{5}\)
\(= \frac{17}4 \div\frac 51\)
\(= \frac{17}5 \times \frac 15\)
\(= \frac{17}{20}\)
∴ Arithmetic Mean = 17/20