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