Understanding Averages
The term "average" usually refers to the Arithmetic Mean, which is calculated by adding up all the numbers in a set and then dividing by the count of those numbers.
Formula: Mean = (Sum of all values) / (Number of values)
Other Measures of Central Tendency
- Median: The middle number in a sorted list. It is less affected by extremely high or low values (outliers) than the mean.
- Mode: The number that appears most frequently.