What are the Characteristics or Essentials of a Good Average?
The following are the main features of averages:
The fundamental feature of the average is that it should be easy calculate and simple to follow.
Average should represent the entire mass of data.
3. Rigidly Defined:
Averages should be rigidly defined. If it is so, instability in its value will be no more and would always be a definite figure.
4. Algebraic Treatment:
Averages are always capable of further algebraic treatment.
5. Clear and Stable Definition:
A good average should have a clear and stable definition.
6. Absolute Number:
A good average should be an absolute number.
7. Effect of fluctuations of Sampling:
A good average should not be affected by actuations of sampling. In other words, if different samples are taken from the production of rice, the mean of these samples should be equal.
8. Not affected by skewness:
A good average is one which is not affected by skewness in the distribution. Contrary to this, if it is affected by skewness, it cannot become a true representative.
9. Based on all values of a variable:
An average is said to be a true preventative only when it is based on all the values of a variable otherwise, it cannot considered a good average.
10. No Effect of Extreme values:
For a good average, it should not be unduly affected by extreme values. If it is so, it will not be a true representative.
11. Value can be found by Graphic Method:
A good average is one which can found by arithmetic as well as graphic method.
12. Possible to find control Tendency for open end class interval:
In many distributions ends are open. So, a good average is one which can be calculated even in en end class intervals.