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The arithmetic mean is the most common measure of central tendency. It is simply the sum of the numbers divided by the number of numbers. The symbol Î¼ is used for the mean of a population. The symbol M is used for the mean of a sample. The formula for Î¼ is shown below: Î¼ = Î£X/N
However, if this is not possible, then there are situations in which the mean, median, and mode have their specific advantages. The mean is ordinarily the preferred measure of central tendency. The mean is the arithmetic average of a distribution. The mean presented along with the variance and the standard deviation is the best measure of central tendency for continuous data. There are some situations in which the mean is not the best measure of central tendency. In certain situations, the median is the preferred measure.