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AVERAGE VALUE

Statistics Directorate    
Definition:
A familiar but elusive concept. Generally, an “average” value purports to represent or to summarise the relevant features of a set of values; and in this sense the term would include the median and the mode. In a more limited sense an average compounds all the values of the set, e.g. in the case of the arithmetic or geometric means. In ordinary usage “the average” is often understood to refer to the arithmetic mean.

Source Publication:
A Dictionary of Statistical Terms, 5th edition, prepared for the International Statistical Institute by F.H.C. Marriott. Published for the International Statistical Institute by Longman Scientific and Technical.

Cross References:
Unit value
Unit value

Statistical Theme: Methodological information (metadata)

Created on Tuesday, May 07, 2002

Last updated on Monday, July 11, 2005