WHAT IS STATISTICAL AVERAGE?WHAT DESIRABLE PROPERTIES SHOULD AN AVERAGE POSSESS?

Statistical average is the central value or the representative value of a statistical series. 

The following are some of the attributes of a good statistical average.

  1. It should be simple to calculate and understand
  2. It should be based on all the observations in the data
  3. It should be capable of further algebraic treatment
  4. It should not be affected by extreme values or by fluctuations in the sample

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