In a list or set average is calculated central value. Which represents the overall rate of change. Mainly there are three types of average called mean, median, and mode. The results of these three averages are slightly different from each other. However, the expression “average” is used for most mathematical applications to search for the mean calculable with basic input and division. In order to calculate a weighted average of all terms, then divide them by the number of terms you have added. The mid-value(median) is the result. In other words, we can say the average is the growth rate.
Purpose of calculating Average
While finding the weighted average first thing that comes to our mind is what is the purpose/need to calculate an average? The most simple answer is “an average gives us an idea about data or set how they are performing as a whole” here data or set represents the number of people, result card, or working team, or a maths problem.
How and Why Calculate Average?
What does calculating average or mean? You are technically divided by the number (or amount) in that set the sum of the values with which you work. In real-world terms, however, the value of the whole set is distributed evenly among all its numbers, and then step back to see what value the numbers all ended. Few examples are given for your understanding so let’s jump to the solution of the problem to make an average calculation.
Examples to Calculate Average
Problem#1: Calculate the Average Wages earned by labor in the last 4 weeks. Wages are given below.
- Wages are given
- No. of Labour are given
As we know
Sum of all the wages = 700+200+100+435+450
Sum of all no. labours = 5
Average wages = 314.166
Problem #2: Calculate the average of a student who has good scored marks in 8 grade. All details of marks are given below.
No. of subjects = 4
Total marks = 75+65+90+50
No. of subjects = 4
Average marks = 70
Average is very easy to calculate even the average of small data or set can be calculated in your head or piece of paper. It is the best and well-known function of a computer program in excel.
It is sensitive to extreme values. For that type of value, we prefer median.
Arithmetic mean is the best way of average calculation. Median is also the best one because it is the central amount of group data.