How to calculate average value?
Suppose that the wages earned by labor in last 6 days are given below.Now find out the average wages earned by labor?
| Day | Wages |
|---|---|
| 1 | 600 |
| 2 | 700 |
| 3 | 800 |
| 4 | 600 |
| 5 | 800 |
| 6 | 700 |
Solution:
Sum of all numbers = 600 + 700 + 800 + 600 + 800 + 700
Sum of all numbers = 4200
Formula:
$$\text{Average}\;=$$
$$\frac{\text{Total sum of all numbers}}{\text{Total number of items}}$$
$$\text{Average}\;=\;\frac{4200}{6}$$
$$\text{Average}\;=\;700$$
