Functions and objects of statistical average , Operation Research

Functions and Objects  of Statistical  Average

To get a single Value that Describes the Characteristics of the Entire Group The purpose  of an  average  is to  represent a group  of individual  value  in a simple  and concise  manner so that  the mind  can get  a quick  understanding  of the general size of the individuals in the group. For example  it is  difficult to generalize anything from  the ages of 80 crore of India people but if  it is said  the average age of  Indian is 52years one can draw conclusions  about  health conditions of the  people.

b.To Facilitate Comparison  An average provides a common denominator fro comparing one set  of data with  others  and conclusions can be drawn about the characteristics of the  separate sets of data. If the average monthly  sales  of department a  bare compared with  the average  monthly  sales  to the  department B a quickly  and easy  comparison of the sales  of the two department  can be  made.

c.To Trace Precise Relationship Average becomes  essential when  it is desired to establish  relationship  between  different groups  in quantitative  terms. Simply saying that  income  of an  average American  is more than that of an average Indian is vague. It  is relatively  more  precise if the  respective  incomes are expressed in  terms  of averages.

d.To know about the  Universe from  a Simplex Averages also help  i obtaining  an idea of a  complete  universe by  means of samples  data. The average of a sample gives a fairly good  idea  about the average of the  population.

e.To Help in Decision Making average  are valuable in setting  standards  for  managerial  control. For example  a business  manger is often  interested in  representative value  of wage general sale  normal  output of a plant  etc. All these expressions refer to some sort  of an average.

 

 

 

Posted Date: 2/27/2013 3:09:14 AM | Location : United States







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