What Population mean is
Population mean is a measure of central tendency used to describe a population. It is calculated by taking the sum of all values in the population and dividing by the total number of values in the population.
Steps for Population mean:
- Collect data from the population
- Calculate the sum of all values in the population
- Divide the sum of all values by the total number of values in the population
- The resulting number is the population mean
Examples
-
A school wants to determine the average age of its student body. The population mean can be used to calculate the average age of all students enrolled in the school.
-
A company wants to understand the average salary of its employees. The population mean can be used to calculate the average salary of all employees.
-
A city wants to understand the average rent of its housing units. The population mean can be used to calculate the average rent of all housing units in the city.