The average, which is the arithmetic mean, is calculated by adding a group of numbers and then dividing by the count of those numbers. For example, the average of 2, 3, 3, 5, 7, and 10 is 30 divided by 6, which is 5. To calculate the average of a set of data, perform the following mathematical function:
A = average (or arithmetic mean)
n = the number of terms (e.g., the number of items or numbers being averaged)
x1 = the value of each individual item in the list of numbers being averaged
Yeah, that’s it. That is the best way to calculate average.
You can take to Excel and use the built in formula to do the calculations for you.
Simply type in the =Average, press tab which opens the first parenthesis, and then select the range. Excel adds all the numbers in the range and then divides the sum by the total amount of cells. This number is then the average of the range.
Here are some more items related to average.
- Median which is the middle number of a group of numbers; that is, half the numbers have values that are greater than the median, and half the numbers have values that are less than the median. For example, the median of 2, 3, 3, 5, 7, and 10 is 4.
- MEDIAN(number1, [number2], …)
- Mode which is the most frequently occurring number in a group of numbers. For example, the mode of 2, 3, 3, 5, 7, and 10 is 3.
Excel does a great job of making formulas super easy to understand. Just make sure to follow the directions and keep an eye on what is required.