How to Calculate the Mean of a Statistical Data Set The most
common way to summarize a statistical data set is to describe
where the center, or mean, is. One way of thinking about what
the center of a data set means is to ask, What’s a typical
value? Or, Where is the middle of the data? The center of a data
set can actually be measured in different ways, and the method
chosen can greatly influence the conclusions people make about
the data. For example, NBA players make a lot of money, right?
You often hear about players like Kobe Bryant or LeBron James
who make tens of millions of dollars a year. But is that what
the typical NBA player makes? Not really (although you probably
shouldn’t feel sorry for the others, given that they still make
more money than most of us will ever make). Tens of millions of
dollars is the kind of money you can command when you are a
superstar among superstars, which is what these elite players
are. So how much money does the typical NBA player make? One way
to answer this is to lo