Introduction

1 What is the simple average (no decimal place) of the following dataset?

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840

It is indeed 3 146 938.

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840
Total 25 175 505
Average 25 175 505/8

= 3 146 938

Calculate it again.

It is 3 146 938.

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840
Total 25 175 505
Average 25 175 505/8

= 3 146 938

2 What is the median (no decimal place) of the following dataset?

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840

It is indeed 3 147 413.

Before you calculate the median you have to sort the data ascending (smallest to largest) or descending (largest to smallest) order.

Ascending

3 130 669

3 134 781

3 136 302

3 143 840

3 150 985

3 155 290

3 161 721

3 161 917

If you have a dataset with an even number of observations you then calculate the average of the two middle values:

(3 143 840 + 3 150 985)/2 = 3 147 413

Calculate it again.

It is 3 147 413.

Before you calculate the median you have to sort the data ascending (smallest to largest) or descending (largest to smallest) order.

Ascending

3 130 669

3 134 781

3 136 302

3 143 840

3 150 985

3 155 290

3 161 721

3 161 917

If you have a dataset with an even number of observations (8) you then calculate the average of the two middle values:

(3 143 840 + 3 150 985)/2 = 3 147 413

3 What is the median (no decimal place) of the following dataset?

Year Rand
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840

It is indeed 3 150 985.

Before you calculate the median you have to sort the data ascending (smallest to largest) or descending (largest to smallest) order.

Ascending

3 130 669

3 136 302

3 143 840

3 150 985

3 155 290

3 161 721

3 161 917

Since the number of observations is an uneven number (7) the middle value is the media. In this case it tis 3 150 985.

Calculate it again.

It is 3 150 985.

Before you calculate the median you have to sort the data ascending (smallest to largest) or descending (largest to smallest) order.

Ascending

3 130 669

3 136 302

3 143 840

3 150 985

3 155 290

3 161 721

3 161 917

Since the number of observations is an uneven number (7) the middle value is the media. In this case it tis 3 150 985.

4 Calculate the three year moving average for 2014.

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840

It is indeed 3 147 792

The three year moving average for 2014 is (3 130 669 + 3 150 985 + 3 161 721)/3 = 3 147 792

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840

Calculate it again.

It is 3 147 792

The three year moving average for 2014 is (3 130 669 + 3 150 985 + 3 161 721)/3 = 3 147 792

Year Rand
2012 3 134 781
2013 3 130 669
2014 3 150 985
2015 3 161 721
2016 3 136 302
2017 3 161 917
2018 3 155 290
2019 3 143 840