# Glossary:Average

### From Statistics Explained

The **average** is the statistical summary, in one value, of a group of numbers.

There are three main types of averages:

- the mean (the sum or product of the values of a group of numbers divided by how many numbers there are in the group);
- the median (the middle value of a group of numbers);
- the mode or modus (the most common value of a group of numbers).

The most common of these three types is the **mean**, which can itself be further subdivided into the

- arithmetic mean;
- geometric mean;
- harmonic mean.

However, in common daily usage, the term 'average' often refers to the mean (so instead of arithmetic mean, geometric mean and harmonic mean, the terms **arithmetic average**, **geometric average** or **harmonic average** may also be used), and even more specifically to the arithmetic mean rather than to the geometric mean, harmonic mean, median or mode.