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How to calculate the mean?
Divide the sum of all numbers (xโ + xโ + ... + xโ) by the amount of values n. Hence, the formula used to calculate the arithmetic mean is A = (xโ + xโ + ... + xโ)/n.
For example, the calculate the mean of 5 values: 12, 30, 25, 86, and 40:
- Sum the values: 12 + 30 + 25 +86 + 40 = 193
- Divide the sum by n values: 193 / 5 = 38.6
- Great work! 38.6 is the arithmetic mean of 12, 30, 25, 86, and 40.
How to calculate geometric mean?
The geometric mean is calculated by taking the nth root of the product. The formula used to find the geometric mean is: โฟโ(xโ ร xโ ร ... ร xโ).
The nth root can also be written as 1/n, hence (xโ ร xโ ร ... ร xโ)1/n.
How to calculate mean in Excel?
To calculate the mean in Excel, use the AVERAGE function. Enter your data in a column and type =AVERAGE(range) where range is the cell range of your data (e.g., A1:A10). Press Enter, and Excel will calculate the arithmetic mean for you.
On another note, you can also use the functions =GEOMEAN() and =HARMEAN() to find specifically the geometric mean or the harmonic mean.