mean

What is mean

The mean is the same thing as the average value of the variable. To find the value of the mean, we add up all the values of the variable and divide by the number of observations. Often the sample mean of a variable is denoted as x¯

where mathematically:

x¯=xin

Properties

  1. Mean uses all data from the data set so it is not robust
  2. If the distribution is skewed to left(right), it will be larger(less) than median