Average

Posted in Statistics, Total Reads: 1498

Definition: Average

Average, in simple terms, means the sum of the numbers divided by the number of numbers. It is also known as the arithmetic mean.

Formula : Average = (a1 + a2 + ….. + an)/n

Eg- average of 2,4 and 6 is (2+4+6)/3 = 4

Average is also called measure of central tendency i.e. a measure of the central value in the population. It is representative of the entire data.If X is the average of a dataset, then the numbers to its left and right balance each other. Average is easily affected by outliers. Average is a term used for discrete random variables whereas for continuous random variables, the term used is Expected value. Averages are widely used in sociology, economics, meteorology, etc.

Eg- The mileage of vehicles is an average value.

We are all aware of batting averages used in cricket which is the number of times the batsman hits to the number of times he bats.

Calculating averages of marks is a common practice in schools and colleges.

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