Hello,
I looked in M.David's 'Geostatisitcal Ore Reserve Estimation' and he says 'the mean of a lognormal distribution tends to be overestimated by using the arithmetic mean' so he goes on to provide a formulae for estimating the mean which includes the variance. Reading this statement lead me to wonder what is the mean? So I looked up the definition of 'mean' in my Cambridge Dictionary of Statisitics and it gives the formulae for the arithmetic mean. So what is the mean that Michel is referring to as compared to what the Cambridge dictionary of statistics is referring to? Does the mean Michel is referring to mean 'the most likely value'? We certainly do not use the arithmetic mean when we use lognormal kriging because we tend to overestimate values. I am a bit confused about the definition of mean, according to Michel, it is not the average, but our most likely value, is this correct?
