What do you mean by statistical averages?
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Statistical Averages
Let’s start simple! Statistical averages. It’s an easy-to-understand concept, and very commonly used. The point of using averages is to get a central valueof a dataset. Of course, there is more than one way to decide which value is the most central… That’s why we have more than one average type. The three most common ones are:
MeanMedianMode
Mean
In everyday language, the word ‘average‘ refers to the value that in statistics we call ‘arithmetic mean.‘ When calculating arithmetic mean, we take a set, add together all its elements, then divide the received value by the number of elements. For example, the arithmetic mean of this list: [1,2,6,9] is (1+2+6+9)/4=4.5.
This is middle-school mathematics, so I assume that you are very well aware of this calculation anyway.
Let’s start simple! Statistical averages. It’s an easy-to-understand concept, and very commonly used. The point of using averages is to get a central valueof a dataset. Of course, there is more than one way to decide which value is the most central… That’s why we have more than one average type. The three most common ones are:
MeanMedianMode
Mean
In everyday language, the word ‘average‘ refers to the value that in statistics we call ‘arithmetic mean.‘ When calculating arithmetic mean, we take a set, add together all its elements, then divide the received value by the number of elements. For example, the arithmetic mean of this list: [1,2,6,9] is (1+2+6+9)/4=4.5.
This is middle-school mathematics, so I assume that you are very well aware of this calculation anyway.
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