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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
Don't Merge to Average or you'll get trampled by a horde of angry statisticians. Measure of Central Tendency is the term they use to cover mean, median, mode etc. Average is a colloquial term which almost always means Arithmetic mean but is occasionally carelessly used for one of the other measures.