Central Tendency:Mean (Arithmetic Mean) Mean (arithmetic mean)of data values The most common measure of central tendency >Mean sum of values divided by the number of values Affected by extreme values (outliers) Sample mean Sample Size i= X1+X2+…+Xx The ith value Observed values Statistics for Managers Using Microsoft Excel Chap 3-6 Statistics for Managers Using Microsoft Excel Chap 3-6 Central Tendency: Mean (Arithmetic Mean)  Mean (arithmetic mean) of data values  Sample mean 1 12 n i i n X X X X X n n        Sample Size  The most common measure of central tendency  Mean = sum of values divided by the number of values  Affected by extreme values (outliers) The i Observed values th value