Installing package from source

To install a package from source.tar.gz
tar -xzvf source.tar.gz
cd source(dir)
./configure (Option: --prefix=/opt/package_name if you wish to install the package in a different folder
make
make install

To install a package in Ubuntu using apt-get (with dependencies)
apt-get install package_name --fix-missing

Installing Essential Packages
# apt-get update && apt-get upgrade
# apt-get install build-essential

Installing from source.bz2
tar -xvjf source.bz2
cd (folder in which tar extracted the files)
./configure
make
make install

Adding Path in Ubuntu
Edit /etc/environment file and update it with the folder you need to add to the path.