Characteristics for a good statistical average

Characteristics for a good statistical average

The following properties should be possessed by an ideal average.

·           It should be well defined so that a unique answer can be obtained.

·           It should be easy to understand, calculate and interpret.

·           It should be based on all the observations of the data.

·           It should be amenable for further mathematical calculations.

·           It should be least affected by the fluctuations of the sampling.

·           It should not be unduly affected by the extreme values.