Mean Function (Average)

Definition

The mean function, also known as average, calculates the central tendency by summing up all values in a set and dividing it by the number of values.

Related terms

Median Function: Finds the middle value in an ordered set or list. If there are two middle values, it calculates their average.

Mode Function:

Identifies the most frequently occurring value(s) in a dataset.

Range Function (in statistics): Measures the spread of values by subtracting the smallest value from the largest value.