Question

Why the Mean is important?

Answer 1

Mean:

• Mean is a measure of central tendency in statistics.
• It is the ratio of the sum of the elements to the total number of elements.
• For an ungrouped data, the mean $\overline{X}=\frac{{\displaystyle \sum _{i=1}^n}{x}_i}{n}$ where $x_i$ is the $i^{th}$ element, $n$is the number of elements
• For a grouped data, the mean$\overline{X}=\frac{{\displaystyle \sum _{i=1}^n}{x}_i{f}_i}{N}$where $x_i$ is the $i^{th}$ element,$f_i$ is the frequency of the $i^{th}$element, $N$is the number of elements.
• Mean takes into consideration all the elements in the given data.
• It calculates the average value of the set of data.
• It cannot be an accurate measurement for skewed distribution.
• If the mean is equal to the median, then the distribution is normal.