Here's how you calculate the mean:
1. Sum up all the numbers in the dataset.
2. Divide the sum by the total number of values in the dataset.
Example:
Let's say you have the following numbers: 2, 4, 6, 8, 10
* Sum: 2 + 4 + 6 + 8 + 10 = 30
* Total number of values: 5
* Mean: 30 / 5 = 6
Therefore, the mean of the dataset is 6.
Types of Means:
* Arithmetic Mean: The most common type of mean.
* Geometric Mean: Used for calculating average growth rates.
* Harmonic Mean: Used for calculating average rates when dealing with ratios.
Key points about the mean:
* It's sensitive to outliers (extreme values).
* It's not always the best representation of the data, especially when the data is skewed.
* It's a commonly used measure of central tendency.
Let me know if you have any other questions!