What Is the Arithmetic Mean?
The arithmetic mean, also known as the average, is a measure of central tendency that represents the sum of a set of numbers divided by the total number of values in the set. It is a commonly used statistical measure in various fields including mathematics, economics, finance, and science.
The formula for calculating the arithmetic mean is:
Arithmetic mean = (sum of all values) / (total number of values)
For example, consider the following set of numbers: 5, 7, 10, 12, and 15. To find the arithmetic mean of these values, we add them up and divide by the total number of values:
Arithmetic mean = (5 + 7 + 10 + 12 + 15) / 5 = 49 / 5 = 9.8
So the arithmetic mean of this set of numbers is 9.8.
The arithmetic mean is a useful measure of central tendency because it is easy to understand and calculate. It represents the “typical” value in a set of data, and can be used to compare different sets of data or to track changes over time. However, the arithmetic mean can be affected by extreme values or outliers, which can skew the result and make it less representative of the data as a whole. In such cases, other measures of central tendency, such as the median or mode, may be more appropriate.
