Let’s start with what the average means. In terms of descriptive statistics, the average is a certain reference (typical) value. It is a property of the data set that we are investigating. It belongs to the so-called measures of central tendency. If we have a large amount of data, we can describe the data with some measures of central tendency – this includes different types of means, median, mode, etc. In this article, we will focus on the mean and its types.

## Types of Means (Average) and Excel Functions

6 basic types of means describe the data:

- Arithmetic mean
- Weighted arithmetic mean
- Moving average
- Geometric mean
- Harmonic mean
- Quadratic mean

My name is Jan Zedníček and I work as a BI Developer at Kentico Software in Brno. Mostly you can see me there working in the office, but I also work partly as a freelancer. I have been working as a freelancer for many companies for more than 5 years, but Kentico is the matter of my heart.
I used to work as a financial controller at companies like Aero Vodochody or Sberbank and I also used to be a bond program manager in Unicapital Investment group.
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