The mean (or average) of a set of data values is the sum of all of the data values divided by the number of data values.
A fruit-seller has the following daily sales (in $) for five consequtive days:
100 - 120 - 125 - 100 - 130
Determine his average daily sales.
Thus, the average daily sale of the fruit-seller is $115.
The mathematical formula for the mean differs slightly depending on whether you are referring to the sample mean or the population mean:
We calculate the statistical mean of a list of numbers in order to find the general tendency of the numbers in the list.
Find the mean number of minutes per day spent in Facebook: 75, 36, 0, 94, 56
Characteristics of the mean:
Remember that the word average means only the one measure that best represents a set of scores, and that there are many differents types of averages. Which type of average you use depends on the question that you are asking and the type of data you are trying to summarize.