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Study the trend of production (in million tonnes) given in the chart. What is the average production of the company over the years 2020 to 2022 if the values are 40, 50, and 60 respectively?
50
55
45
60
50
Given: Production values for the years 2020, 2021, and 2022 are 40, 50, and 60 million tonnes respectively.
Production values for the years 2020, 2021, and 2022 are 40, 50, and 60 million tonnes respectively.
Average=Number┬аof┬аobservationsтИСValuesтАЛ
Since the values (40, 50, 60) are in an Arithmetic Progression (AP) with a common difference of 10, the average is simply the middle term, which is 50.
Students often add the years (2020 + 2021 + 2022) instead of the production values or mistake the denominator as 4 instead of 3.
Identify the values
The production values for the three years are 40, 50, and 60.
Values={40,50,60}
Sum the production values
Calculate the total sum of the production for the years 2020 to 2022.
Sum=40+50+60=150
Apply average formula
Divide the total sum by the number of years, which is 3.
Average=3150тАЛ=50
A is correct because the sum of the production values is 150 and dividing by 3 results in an average of 50.
This concept of the mean of an Arithmetic Progression is highly useful in simplifying calculation time for series-based questions in Quantitative Aptitude.