We use 2 symbols for the mean. μ (mu) and x̄ (x-bar).
Here is why:
Here is why:
μ (mu) represents the population mean.
This is the average of the values of the entire population.
For example, if you want to calculate the population's average income in America, you need answers from all Americans.
This is the average of the values of the entire population.
For example, if you want to calculate the population's average income in America, you need answers from all Americans.
x̄ (x-bar) represents the sample mean.
This is the average of the values in a sample taken from the population.
For example, this can be the average of 1000 Americans randomly selected from the population.
This is the average of the values in a sample taken from the population.
For example, this can be the average of 1000 Americans randomly selected from the population.
The sample mean is just an estimated value.
We have no access to the entire population usually, so we need to use samples to estimate the population mean.
For this reason, the sample mean and the population mean usually differ.
We have no access to the entire population usually, so we need to use samples to estimate the population mean.
For this reason, the sample mean and the population mean usually differ.
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