Definition - What does Statistical Mean mean?
Techopedia explains Statistical Mean
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.
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