Introduction
In the world of statistics and mathematics, the mean is a fundamental concept used to describe the average value of a set of numbers. Understanding what the mean is and how to calculate it is essential for analyzing data and making informed decisions.
Definition
The mean, also known as the average, is calculated by adding up all the numbers in a set and dividing by the total number of values. It provides a single value that represents the central tendency of the data.
Formula
The formula to calculate the mean is: Mean = Sum of all values / Number of values
Example
Let’s say we have a set of numbers: 2, 4, 6, 8, 10. To find the mean, we add up all the numbers (2 + 4 + 6 + 8 + 10 = 30) and divide by the total number of values (5). The mean in this case is 30 / 5 = 6.
Case Study
In a survey of 100 people on their monthly income, the values were as follows: $2000, $3000, $4000, $5000, $6000. To find the mean income, we add up all the values ($2000 + $3000 + $4000 + $5000 + $6000 = $20000) and divide by the total number of respondents (100). The mean monthly income is $20000 / 100 = $200.
Statistics
The mean is widely used in statistics to summarize data and make comparisons. It is sensitive to extreme values, known as outliers, which can skew the average. However, it provides a simple and intuitive way to understand the central tendency of a dataset.
