What is the Formula of Mean?
The formula for calculating the mean is straightforward:
Mean = Sum of all values/Total number of values
This formula is used to calculate the mean for both grouped and ungrouped data.
Methods to find Mean
Mean is the average, which is a basic principle of statistics and mathematics. The term refers to a measure of central tendency; it represents a value or a mean that has been taken among the numbers of a specified set. The significance of the mean calculation in areas like economics, finance, and social sciences is very high. The following article will discuss the techniques to find mean. Also, these techniques include the formula of the mean, grouped data, ungrouped data, the different ways to calculate the mean, etc.
Table of Content
- What is Mean?
- What is the Formula of Mean?
- Mean Formula for Grouped Data
- Mean Formula for Ungrouped Data
- Direct Method
- Assumed Mean Method
- Step-Deviation Method
- Types of Mean in Math
- Arithmetic Mean
- Weighted Mean
- Geometric Mean
- Harmonic Mean
- Importance of Mean
- Solved Examples on Methods to find Mean
- Practice Questions on Methods to find Mean