Question

why do we use averages in measuring income? ​

Answer 1

Explanation:

We use averages because they are useful for comparing differing quantities of the same category. For example, to compute the per capita income of a country, averages have to be used because there are differences in the incomes of diverse people. However, there are limitations to the use of averages.

Answer 2

We use averages in measuring income since it helps us in coming to conclusions from certain data or figures. They help in summarizing the large data through a concluded single value

Explanation:

• Averages are useful since they help in bringing to conclusions which could be in form of large data and information. These can be explained by condensing them into small value for information
• The averages are useful in making comparisons and evaluating the income level of the people. Averages also helps in formulating the GDP of the nation through an approximate data using the averages
• The averages can be calculated by the help of mean, median and mode. Median helps in a better understanding of the value of average where the data is very large. For people who are well paid and have large amounts the average helps in signifying them in single value

To know more about averages

What are the limitations to the use of averages

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