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The statistical mean refers to the mean or average that is used to derive the central tendency of the data in question. It is determined by adding all the data points in a population and then dividing the total by the number of points. The resulting number is known as the mean or the average.
In mathematics and statistics, the term arithmetic mean is preferred over simply "mean" because it helps to differentiate between other means such as geometric and harmonic mean. Statistical mean is the most common term for calculating the mean of a statistical distribution.
An arithmetic mean is calculated using the following equation:
The statistical mean has a wide range of applicability in various types of experimentation. This type of calculation eliminates random errors and helps to derive a more accurate result than a result derived from a single experiment.