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

Mathematical averages
Under this class of average come the following:
 Arithmetic average, or Mean
 Geometric Mean
 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:
 Moving average
 Progressive average
Each of the aforesaid average is discussed in detail in the following paragraphs: