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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, in this situation, the mean is widely preferred as the best measure of central tendency because it is the measure that includes all the values in the data set for its calculation, and any change in any of the scores will affect the value of the mean. This is not the case with the median or mode.