Question

What is the mean of the data set?

{2, 5, 1, 7, 6, 4, 3}

Enter your answer in the box.

Answer 1

To find the mean, you must add all the numbers and divide it by the amount of numbers in the set.

2 + 5 + 1 + 7 + 6 + 4 + 3
= 28
28 divided by 7 = 4

The answer is 4

Explanation:

The arithmetic mean is the simple average, or sum of a series of numbers divided by the count of that series of numbers.

In the world of finance, the arithmetic mean is not usually an appropriate method for calculating an average, especially when a single outlier can skew the mean by a large amount.

Other averages used more commonly in finance include the geometric and harmonic mean.

Answer 2

Your answer is 4.

Explanation:--

The Mean of the Data set is ---

2+5+1+7+6+4+3

7

= 4.

Hence, Mean of the data set is 4.