The formula to calculate the average is:
\[ \text{Average} = \frac{\text{Sum of Values}}{\text{Number of Values}} \]
Where:
The average is the sum of all values divided by the number of values, representing the central value of a data set.
Consider an example where the values are:
Using the formula to calculate the average:
\[ \text{Average} = \frac{10 + 20 + 30 + 40 + 50}{5} = 30 \]
This means that the average for this example is 30.