what do you mean by statistical average or central tendency of a series state its function - Economics - Measures of Central Tendency

Question

what do you mean by statistical average or central tendency of a
series ? state its function

P Vishnu Preethi · Answer

In the words of croxton and cowden
An average is a single value within the range of the data that is
used to represent all the values in the series Since an average is
somewhere within the range of data it is sometimes called measures
of central value

what do you mean by statistical average or central tendency of a series ? state its function