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30/12/2014

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12/08/2014

Mathematics - Averages

Averages is a concept, that is normally used in most of the banking exams.
Try to understand the concept and quick tips before answering the questions

7 Laws of Averages
1.An average is an estimate of where the centre point of a set of number lies

2.Average is also called Mean

3.Weighted Average is an average of the group f elements

4.Simple way of calculating Average
The average of 4 numbers 12,13,17,18 is (12+13+17+18)/4=60/4=15

5.Please note that average is also a number that can replace each and every number of the set without changing the total set of numbers
If we go by this statement that in the above example
We can change each number by 15 , that is
12 changes to 15
13 changes to 15
17 changes to 15
18 changes to 15
If you add all these = 15+15+15+15= 60, which is same as
12+13+17+18 = 60

6.The average always lies above the lowest number of the set and below the highest number of the set

7.Average and Ages
If the average age of a person is x years today, then after n years their average age will be x+n
If the average age of a person is x years today, then n years ago their average age was be x-n
This is due to fact that for a group of people, 1 year is added to each person’s age every year