mean

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Mean

The expected value of a random variable. Arithmetic average of a sample.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Arithmetic Mean Average

An average calculated by adding the value of the points in a data set and dividing the sum by the number of data points. For example, suppose one wishes to calculate the average income of a country with exactly five people in it, and their incomes are $25,000, $26,000, $43,000, $70,000, and $72,000. It is calculated as:

($25,000 + $26,000 + $43,000 + $70,000 + $72,000) / 5 = $47,200.

A limitation to the arithmetic mean average is that it can be overly affected by extremes in either direction. For example, if one of the five persons in the country earns $100 billion per year, the arithmetic mean average income would be in the billions and would not accurately count the other four citizens. For this reason, many analysts use the median in conjunction with the arithmetic mean average. The arithmetic mean average is also called simply the mean.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

mean

The average of a set of numbers.Contrast with median,which is the middle figure in a set of numbers,and mode,which is the value that appears most often in a set of numbers.

Example: A survey of home values in a neighborhood of nine houses obtained the following values:

The mean, or average, is the total of all values divided by 9, or $143,044.The median is the middle number when the numbers are all arranged from highest to lowest,which would be house 5, or $139,850.The mode is $139,000,because it is the number that appears most often.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Under this definition, an equilibrium value [Mu] of the population mean is stable if for [Mathematical Expression Omitted] near [Mu], the sign of [Mathematical Expression Omitted] is opposite to the sign of [Mathematical Expression Omitted].
The usual unbiased estimator for population mean Y of the study variable is, given by
Population means were standardized to [mu] = 0 and [sigma] = 1 before computation of PD.
Product type estimators in simple random sampling for estimating the population mean. Singh and Vishwakarma [15] suggested a generalized exponential estimator using single auxiliary variable, and Noor-ul-amin and Hanif [16] modified the exponential estimator for two auxiliary variables in two- phase sampling design.
The selection differential was the difference between the mean of the selected lines and the unselected population mean, averaged across the four validation environments.
Corresponding population mean square error of the study be the coefficient of variation of the study as well as auxiliary variable respectively, and Eqs.
[7] proposed the following estimator of population mean when the population means [[bar.X].sub.1] and [[bar.X].sub.2] of the auxiliary variables were known:
A confidence level for the population mean refers to the percentage of all possible samples of the same size that can be expected to include the true population mean.
The problem in using Sample Mean Estimates (SME) is described followed by the proposed method using Population Mean Estimate.
and T.A.I., obtained scores between 49 and 60, which ranked them on level 2, within the population mean, under the sociability aspect.
Let [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] be the population means of respondents and nonrespondents, respectively, and let [bar.Y] = [[summation].sup.N.sub.i=1] [y.sub.i]/N be the mean of whole population mean.
The mean of low motivation for change is 3.28, which is higher than population mean of 3.