Mean
Definition
The arithmetic average — sum of values divided by count. Sensitive to outliers, unlike the median.
Example
Five incomes of $30K, $35K, $40K, $50K, $1M — mean = $231K, median = $40K.
The arithmetic average — sum of values divided by count. Sensitive to outliers, unlike the median.
Five incomes of $30K, $35K, $40K, $50K, $1M — mean = $231K, median = $40K.