Different Types of Average

There are various types of averages which can be grouped under the three broad classes:

1. Mathematical averages
2. Positional averages
3. Miscellaneous averages.

1. Mathematical averages

Under this class of average come the following:

1. Arithmetic average, or Mean
2. Geometric Mean
3. Harmonic Mean.

These are called mathematical averages because; their values are computed through mathematical equations.

      2. Positional averages

Under this class of average come the following important ones:

1. Median            2. Mode

3. Quartiles         4. Deciles

5. Percentiles     6. Septiles

7. Octiles              8. Quintiles etc.

9. Hexile etc.

These are called positional averages because their values are determined by locating their positions in the series of the variables.

     3. Miscellaneous averages

Under this class of average come the following important ones:

1. Moving average
2. Progressive average

Each of the aforesaid average is discussed in detail in the following paragraphs: