MONTHLY AVERAGE Meaning and
Definition
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The term "monthly average" refers to a statistical measure that calculates the average value of a particular data point over a monthly time period. It is commonly used in various fields, including finance, economics, and meteorology, among others.
In finance and economics, "monthly average" typically refers to the average value of a specific financial indicator or economic variable calculated over a one-month period. This could include variables such as stock prices, interest rates, GDP growth, or consumer price index. By calculating the monthly average, analysts and researchers can gain insights into trends, patterns, and fluctuations of these variables over time.
In meteorology, "monthly average" relates to weather or climate data collected over a monthly period. This may involve average temperature, rainfall, wind speed, or other atmospheric conditions. Utilizing monthly averages allows climatologists and meteorologists to assess long-term climate trends, study variations throughout the year, and make predictions or comparisons with historical data.
To calculate the monthly average, individual data points of a particular variable are summed up over the entire month, and then divided by the number of days or observations within that month. This provides a representative value that represents the average behavior of the variable for that specific month, which can be used for analysis, forecasting, or comparison purposes.
Common Misspellings for MONTHLY AVERAGE
- nonthly average
- konthly average
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- minthly average
- mknthly average
- mlnthly average
- mpnthly average
- m0nthly average
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- montgly average
Etymology of MONTHLY AVERAGE
The word "monthly" traces its origin back to the Latin word "mensis" meaning "month". It entered the English language through the Old French word "mois" which also means "month". The word "average" comes from the Middle English word "averay" which derives from the Old French word "averei" meaning "make equal". The term evolved from the Latin word "ad-" meaning "to" and "averare" meaning "adjust". Hence, "monthly average" combines the Latin and French roots to refer to the equalizing or adjusting of data over a specific period of one month.
