Average
In ordinary language, an average is a single number or value that, in some sense, best represents the most typical value of a collection of data. The type of average most commonly taken as being representative of a list of numbers is the arithmetic mean – the sum of all the numbers divided by how many numbers there are in the list. For example, the mean or average of the numbers 2, 3, 4, 7, and 9 is 5. Depending on the context, the most representative statistic to be taken as the average might be another measure of central tendency, such as the mid-range, median, mode or geometric mean. For example, the average personal income is often given as the median—the number below which are 50% of personal incomes and above which are 50% of personal incomes—because the mean would be higher given the personal incomes of the (comparatively) few billionaires.
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