The mean and average are used interchangeably and refer to the same statistical measure which is the sum of all values in a data set divided by the number of values.
The mean is the most common way of describing the central tendency of a data set and is a good indicator of the typical value of the data set when the data is roughly symmetric and does not have outliers.
In mathematical terms:
Mean = (sum of all values) / (number of values) = Σx/n
Where:
Σ = Summation symbol
x = individual value
n = number of values in the data set.
The Difference
While mean and average are often used interchangeably, there is a difference between them. In a statistical sense, average refers to any measure of central tendency (i.e. mean, median, mode), while mean specifically refers to the arithmetic average calculated as described above.
So, to clarify, the mean is a type of average, but not all averages are means. The median and mode are other types of averages used to describe the central tendency of a data set. The median is the middle value of a data set when it is ordered, while the mode is the value that appears most frequently in a data set.
It’s important to choose the appropriate measure of central tendency depending on the shape of the data set and the question being asked, as each has its own strengths and weaknesses.