Mean Value Calculator

What is the Mean?

The mean, often referred to as the average, is a measure of central tendency in statistics. It represents the typical or central value in a dataset and is calculated by summing all values and dividing by the number of values.

Formula and Its Meaning

The formula for calculating the mean (\(\bar{x}\)) is:

\[\bar{x} = \frac{\sum_{i=1}^{n} x_i}{n}\]

Where:

• \(\bar{x}\) is the mean
• \(\sum\) represents the sum of all values
• \(x_i\) are individual values in the dataset
• \(n\) is the total number of values

Calculation Steps

1. Sum all the values in your dataset
2. Count the total number of values
3. Divide the sum by the count

Example Calculation

Let's calculate the mean for the dataset: 5, 20, 40, 80, 100

1. Sum the values: 5 + 20 + 40 + 80 + 100 = 245
2. Count the values: 5
3. Calculate the mean: \(\bar{x} = \frac{245}{5} = 49\)

Visual Representation

This scatter plot represents the example dataset. The red dashed line indicates the mean (49), showing how it represents a central value in the dataset.