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Bank Exam » Bank Exam Study Materials » Quantitative Aptitude » Properties of Averages
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Properties of Averages

As defined by the data, an average value is a single value within a range of data that is used to represent all of the values in a series.

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The term ‘average’ is used frequently in a variety of common contexts and is defined as follows: For example, you might say, “I’m having an ordinary day today,” which means that your day is neither especially good nor very bad; it is more or less average. We can also use ‘average’ to describe people, objects, and other things.

The middle of the ‘centre’ position is denoted by the phrase ‘average.’ When the phrase is used in mathematics, it refers to a number that is a typical representation of a collection of numbers that has been calculated (or data set). Averages can be determined in various methods, which are covered on this page, including the mean, median, and mode. Averaging calculator, as well as a description of each form of average as well as examples, are all included.The average value of a series is the value that falls between the maximum and minimum values. As a result, it is sometimes referred to as the measure of central tendency.

The Characteristics of Average

Listed below are some of the most crucial characteristics that a good average should possess:

  1. It should be straightforward to comprehend.
  1. It should be straightforward to compute.
  1. It should be based on all of the elements on the checklist.
  1. It should be unaffected by extreme values of any kind.
  1. It should have an unambiguous definition.
  1. It should be capable of being subjected to additional algebraic treatment.
  1. The average observation is the point in between the maximum and least observations.
  1. The average will be multiplied by the same value as the value of each observation, i.e. N, if the value of each observation is multiplied by a certain value of N.

As an illustration: Based on the initial set of observations, we’ll assume If the number 2 is multiplied by all of the observations, the resultant new observations will look like this:

6, 8, 16, 24, 4, 10, 2

New Average = (70)/7

                       =10 

                       = 2(5) 

                       = 2*Old Average

  1. If the value of each observation is increased or lowered by a certain amount, the average value will be increased or decreased by the same number as the individual observations.

As an illustration: If the number 2 is added to all observations, the following will be the new observations:

5, 6, 10, 14, 4, 7, 3

New Average = (49)/7 

                       = 7

                       = (5 + 2) 

                       = 2 + Old Average

  1. In a similar vein if each observation is divided by a certain number, the average will be split by the same number as the observations.

To illustrate: If the number 2 is subtracted from all observations, the resulting new observations will be as follows:

1.5, 2, 4, 6, 1, 2.5, 0.5

New Average = (17.5)/7 

                       = 2.5 

                       = 5/2 

                       = Old Average/ 2

As a result, I can confidently state that any general operation performed on observations will have the same effect on the average.

Example2: Calculate the average of the first twenty natural numbers.

Solution: Average =(Sum of first 20 natural numbers)/ (20)

We now understand that the sum of the first n natural numbers is ((n)(n+1)/2.

As a result, the sum of the first 20 natural numbers.

Average =(20*21)(2*20) = 10.5

For example, if there are three numbers, the second number is twice the first and three times the third. If the average of these integers is 44, then calculate the greatest number possible using this formula.

Solution: Assume x is the third number in the series.

According to the question, the second number is equal to 3x = 2. (first number)

As a result, the first number equals (3x)/2, the second number equals 3x, and the third number equals x.

Now, average = 44 = (x + 3x + (3x)/2)/3 

            (11x)/2= 44*3

                     x=24

In this case, the greatest number is (3x) = 72.

Exceptional Situation

To determine the average speed.

Consider the following scenario: a man travels a certain distance at x km/hr and then travels the same at y km/hr. The average speed over the entire distance travelled will be (2xy) / (x+y) metres per second.

I will be updating a video lecture on this idea shortly to show how this formula was generated.

If all of the numbers in a list are the same number, then the average of the numbers in the list is likewise the same number. There are many different sorts of averages, and each of them has this attribute.

In addition, monotonicity is a universal property: if two lists of numbers A and B have the same length, and each entry on list A is at least as large as the corresponding entry on list B, then the average of list A is at least as large as the average of list B; otherwise, the average of list A is at least as large as the average of list B. Furthermore, all averages fulfil linear homogeneity: if all the integers in a list are multiplied by the same positive amount, then the average of the list changes by the same factor, and so on.

Before calculating the average of a list of items, certain variants of average assign varying weights to the items in the list; the weighted arithmetic means, the weighted geometric mean and the weighted median are examples of such measures. Furthermore, for some forms of moving averages, the weight of a particular item is determined by its position in the list of items. Most averages, on the other hand, meet permutation-insensitivity: all elements in a list contribute equally to the determination of the item’s average value, and their order inside a list is immaterial; the average of (1, 2, 3, 4, 6) is the same as that of (1, 2, 3, 4, 6). (3, 2, 6, 4, 1).

Conclusion

If there is a collection of numbers, the average value is the middle value, which is derived by dividing the sum of all values by the number of values in the collection. Averaging a set of data involves adding up all the individual values and dividing this sum by the number of values. 

faq

Frequently Asked Questions

Get answers to the most common queries related to the Bank Examination Preparation.

What are the characteristics and different sorts of averages?

Ans : A single number representing the “middle” value of all the values in a list or collection is an &#...Read full

In what ways does the statistical average differ from other types of averages?

Ans :It should be well described to ensure that a unique answer is obtained. It should be straightforward to compreh...Read full

Ans : A single number representing the “middle” value of all the values in a list or collection is an “average.” There are three different kinds of averages to consider. The mean, the median, and the mode are all terms used to describe these quantities.

Ans :It should be well described to ensure that a unique answer is obtained. It should be straightforward to comprehend, calculate, and interpret. It should be based on all of the data’s observations and findings. It should be capable of supporting more mathematical calculations.

 

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