The average chapter covers the concept of averages and how to compute the average of a given set of data.
Given a set of numbers, CALCULATE the average value.
An average is the sum of a group of numbers or quantities which is divided by the number of numbers or quantities. Averages are helpful while summarizing or generalizing a condition resulting from various conditions. For example, while analyzing reactor power level, it might be helpful to use the average power for a day, a week, or a month. The average could be used as a generalization of the reactor power for the day, week or month.
Average calculations include the subsequent steps:
Step 1: Add the individual numbers/quantities.
Step 2: Count the number of numbers/quantities.
Step 3: Divide the sum in Step 1 by the number in Step 2.
Find out the average cost of a car, given the following list of prices.
$10,200; $11,300; $9,900; $12,000; $18,000; $7,600
Step 1: 10200 + 11300 + 9900 + 12000 + 18000 + 7600 = 69000
Step 2: Total number of prices is 6
Step 3: Divide 69000 by 6. The result is 11500
Therefore, the average price of the six cars is $11,500.