Average forms an important part of the Numerical ABility syllabus of various banking/government/regulatory bodies exams like SBI PO, SBI Clerk, IBPS PO, IBPS SO, IBPS Clerk, ECGC PO, SEBI Grade A, PFRDA Grade A, NABARD GRade A, RBI Assistant, RBI Grade B, and many more. The topic of Average also comes in hand while solving MCQs based on Data Interpretation. So, from an exam point of view, Average is an important topic that you must prepare well for.
Average is calculated by adding up a set of numbers and then dividing the sum by the total number of items in the set. The average provides a single value that represents the "typical" or "middle" value in the data set.
In Quantitative Aptitude, average is a commonly used concept for solving problems related to data analysis and statistics. For example, you may be asked to find the average of a set of numbers, such as the average of a set of exam scores, the average of prices of items, etc. The average is used to represent the entire data set in a compact form and can be used for making inferences about the data set and for making comparisons between different data sets.