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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
What is the purpose of central tendency measures? It is a measure of the middle or central value of a variable of interest. There are different measures of central tendency and their purposes are not exactly the same. However â¦, the basic principle is that the observed values of the variable are more likely to be near the central tendency value than far from them.