The ratio wherein the addition of the values to the number of the value is a population mean – if the possibilities are equal. A population mean include each element from the set of observations that can be made.
The population mean can be found using the following formula:
\[\large \mu=\frac{\sum X_i}{N}\]
Where,
$∑X_{i}$ = Sum of the values
NÂ = Number of the value
Solved Example
Question:Â Find the population mean of the following numbers 1, 2, 3, 4, 5.
Solution:
Given,
$X_{i}$Â = 1, 2, 3, 4, 5
$∑X_{i}$ = 1 + 2 + 3 + 4 + 5 = 15
N = 5
Population Mean = $\frac{\sum X_{i}}{N}$
$\mu$Â = $\frac{15}{5}$
$\mu=3$
Population Mean = 3