Mean Vs Avg. The mean is the sum of all the numbers in the set 167 divided by the amount of numbers in the set 5. There are other statistical measures that use samples that some people confuse with averages - including median and mode.
The average vs weighted average is a mathematical and statistics term in finance and business but both are calculated differently. Mean is basically a form of describing an average of the sample. Npmean always computes an arithmetic mean and has some additional options for input and output eg.
An arithmetic mean is calculated by adding several quantities together and dividing the sum by the number of quantities.
Average can be in mean arithmetic mean median or mode. Average or mean and median play the similar role in understanding the central tendency of a set of numbers. So the rounded average or mean score is 74. In common English the word mean is usually not used to mean average The word mean has two other meanings.
