Estimate Mean
1. The problem is to understand how to estimate the mean of a data set.
2. The mean (or average) is a measure of central tendency that summarizes the data with a single value.
3. To estimate the mean, you sum all the data points and then divide by the number of data points.
4. Mathematically, if you have data points $x_1, x_2, \ldots, x_n$, the mean $\bar{x}$ is given by:
$$\bar{x} = \frac{1}{n} \sum_{i=1}^n x_i$$
5. This formula means you add all the values $x_1 + x_2 + \cdots + x_n$ and then divide by $n$, the total number of values.
6. This gives you an estimate of the central value around which the data points are distributed.
7. The mean is useful for summarizing data and comparing different data sets.