Averages

Stats and averages are tools used in descriptive statistics. Stats and averages can provide an illustration of a specific individual, corporation, or team that may otherwise be overlooked. It may seem to be something that is irrelevant to everyday life, however, stats and averages are important in all areas of life. Stats and averages are important to understanding the past present and future. Stats and averages can inform you about the success or failure of a certain athlete. For instance, calculating a player’s batting average allows the success of baseball players to be quantified and ranked. The number one batting average in history belongs to Ty Cobb of the Detroit Tigers. He had a batting average of.366 which is still yet to be topped.

The success of a company and specific stores within that company can by summarized using averages and stats. What was the average number of transactions of all of the stores in the country? How much money was made as compared to how much was lost due to theft and damages? By quantifying this type of data a company is able to see what areas the are succeeding in and what areas they are lacking in and make required changes. How can you quantify how smart an individual is? Averages and stats are often used to describe a persons intelligence. For example, colleges select individuals based on their grade point average and their test scores. a person’s grade point average is calculated by averaging together their grades from all of the classes that they have taken. Planning to take a trip to Portland, Oregon this November? Well, you better check out the averages and stats for the state of Oregon before you travel. It is important to know that the average temperature for Portland, Oregon in November is 46 degrees Fahrenheit and that there is an average rain accumulation of 5.3 inches. Pack accordingly!

Averages and stats have become so integrated into our daily lives that people often overlook the importance of them. Averages and stats are important when deciding a target audience for a product. If the primary consumer of a product is teenage girls, than more money is going to be spent marketing to teenage girls than marketing to other audiences such as older males. There are three types of averages that play an important role in day to day activity. They are the mean, the median, and the mode. The mean is the average of the sample, or the sum of all of the numbers divided by the amount of numbers in the sample. The median is the number directly in the center of the higher group of numbers and the smaller group of numbers when the sample is listed in ascending or descending numerical value. The mode is the number that is present the most amount of times in a sample. Using the mean, median and mode one can obtain an illustration about the data they are analyzing, which becomes important in all areas of business, mathematics, and life.