The average, between the extremes. The sum of all values in the data, divided by the number of values. This is the sample mean, a value we can actually measure and compute, which approximates the population mean which we generally cannot measure. But we do expect the population mean to be within "a few multiples" of the standard error of the computed sample mean value. The mean is a characterization of the distribution's central value.

for the data series: x1, x2, x3,....,xN the mean is:

Note the two methods that are used to symbolise the mean of x.

See also: Arithmetic Mean, Average Deviation, Central Tendencies, Geometric Mean, Harmonic Mean, Standard Deviation, Standard Error, Statistic, Variance.

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Subjects: Statistics