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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
The mean is the best-known and most widely used measure of central tendency. It is what most people call the average.. It is used to describe the distribution of interval-ratio variables such as age, income, and education.