Section 13 Measures of Average
Estimator of central tendency of the data
13.1 Mean
- Mean or Average or Arithmetic Mean (AM)
\[ \Huge \bar{x} = (x_1 + x_2 + ... + x_n)/n \]
\[ \Huge \bar{x} = \frac{1}{n}\sum\limits_{i=1}^{n} x_{i} \]
Mean deviation
Centering and Scaling of data
Other means: Geometric Mean (GM); Harmonic Mean (HM)
13.2 Median
- Partition the data into two equal parts
- 1/2 of observations below & 1/2 of observations above the median