Arithmetic Mean vs. Geometric Mean
There are key differences between Arithmetic Mean and Geometric Mean, which can be listed as follows:
Arithmetic Mean | Geometric Mean |
|---|---|
| Sum of all values divided by the number of values | nth root of the product of all values |
| Suitable for symmetrical data with no extreme values | Suitable for data with positive values and extreme values |
| Sensitive to extreme values | Not sensitive to extreme values |
| Used for measuring the central tendency of data | Used for measuring the average growth rate |
| Can be used for both discrete and continuous data | Usually used for continuous data |
| Additive in nature | Multiplicative in nature |
| Denoted by “x̄” or “AM” | Denoted by “G” or “GM” |
Mean in Statistics
Mean in Mathematics is the measure of central tendency and is mostly used in Statistics. Mean is the easiest of all the measures. Data is of two types, Grouped data and ungrouped data. The method of finding the mean is also different depending on the type of data. Mean is generally the average of a given set of numbers or data. It is one of the most important measures of the central tendency of distributed data.
In statistics, the mean is the average of a data set. It is calculated by adding all the numbers in the data set and dividing by the number of values in the set. The mean is also known as the average. It is sensitive to skewed data and extreme values. For example, when the data are skewed, it can miss the mark.
In this article, we’ll explore all the things you need to know about What is Mean, Mean Definition, Mean Formula, Mean Examples, and others in detail.
Table of Content
- What is Mean in Statistics?
- Mean Formula
- How to Find Mean?
- Mean of Ungrouped Data
- Types of Mean
- Mean of Grouped Data