we are now able to define a number of important summarized measures, start-
ing with the arithmetic average ormean.
2.2.1 Mean
Given a data set of sizen,
fx 1 ;x 2 ;...;xngthe mean of thex’s will be denoted byx(‘‘x-bar’’) and is computed by sum-
ming all thex’s and dividing the sum byn. Symbolically,
x¼P
x
nIt is important to know thatS(‘‘sigma’’) stands for an operation (that of
obtaining the sum of the quantities that follow) rather than a quantity itself.
For example, considering the data set
f 8 ; 5 ; 4 ; 12 ; 15 ; 5 ; 7 gwe have
n¼ 7
X
x¼ 56leading to
x¼56
7
¼ 8
Occasionally, data, especially secondhand data, are presented in the grouped
form of a frequency table. In these cases, the meanxcan be approximated
using the formula
xFP
ðfmÞ
nwherefdenotes the frequency (i.e., the number of observations in an interval),
mthe interval midpoint, and the summation is across the intervals. The mid-
point for an interval is obtained by calculating the average of the interval lower
true boundary and the upper true boundary. For example, if the first three
NUMERICAL METHODS 73