The simple definition of a mean is that of a numeric quantity which represents the center of a collection of numbers. Here the trick lies in defining the exact type of numeric collection, as beyond ...

The formula of Mean: In statistics, "mean" is a measure of central tendency, calculated by summing up all the values in a dataset and dividing by the number of data points. The single numerical value ...

In this article we construct an upper prediction limit for the arithmetic mean of a future sample from a lognormal distribution. First, we present three approximate distributions for the total of the ...