Mean [miːn]: a value, often also refered to as the average, which gives some general but quite limited information about a data set.
There are multiple ways to determine the mean of one dataset. Quite common examples are: the median, the arithmetic mean or the truncated mean. Which one you should chose depends on the kind of data in front of you. The main differnce lies in the way these means are affected by extreme values – their so called robustness against anomalies.Back to Dictionary Read More