So, the concept of an average truly is somewhat abstract. Most statisticians define it as a "measure of central tendency." Others say it is the "center of gravity" for a set of numbers.
I personally prefer a slightly more concrete explanation: A statistic that describes the "typical", or better yet, "representative" value of a data set. We humans get to decide what "representative" actually means. Is it the most common number? The number that falls "in the middle" of a set of numbers? Etc.
I am going to list a few types of averages and am wondering if someone could provide a data set where that particular average is the best choice for describing a "typical" or "representative" value for that data set.
Types of averages:
Arithmetic Mean: The number that you could use in place of each of the values of a data set, and still have the same sum. Formula: $$\overline{X}=\frac1N\sum\limits_{i=1}^{N} X_i$$
Mode: The most common value in a data set. No formula that I know of.
Median: The literal middle number of a data set where the values are listed in ascending order. No formula that I know of.
Root Mean Square: Don't really know how to describe this average in a physical sense. Maybe the average that gives larger numbers in the data set more "weight" or "significance?" Formula: $$X_{rms}=\sqrt{\frac1N\sum\limits_{i=1}^{N} X_i^2}$$
Mean Root Square: I just made this one up, but it seems to work well when I applied it to some random data sets. It seems to do the opposite of the RMS and gives smaller numbers in the data set more "weight" and "significance." Formula: $$X_{mrs}=\frac1N\sqrt{\sum\limits_{i=1}^{N} X_i^2}$$ EDIT: Turns out this should not be considered an average because it fails to describe a data set that consists of only one number, unlike all the other averages.
Geometric mean: The number that you could use in place of each of the values of a data set, and still have the same product. Formula: $$GM=\sqrt[N]{\prod\limits_{i=1}^{N} X_i}$$
Feel free to add in any other popular or useful types of averages and when to use them!
In the data set (1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11) "6' is the median.
There are 5 numbers before it, (1, 2, 3, 4, 5), and 5 numbers after it (6, 7, 8, 9, 10, 11)
In the data set, (1, 22, 37, 45, 51, 66, 79, 84, 90, 107, 3035), "66" is the 'median'. This doens't tell you much about the OTHER members of this set of numbers, but it is still the 'median'.