Home » FM Upper Fence

# FM Upper Fence

## 1.5 Basic Statistical Concepts

### Mean

• The mean of a numerical distribution is found by summing up the values of all individual data points, then dividing by the number of data points.
• It is represented by either a capital letter with a bar drawn above it, or the Greek symbol mu (µ):

\bar{X}=\frac{\sum_{i=1}^{N} x_{i}}{N}

Where N is the total number of data points, and represents the i’th datapoint.

Note: the symbol \Sigma is short for “sum of”, so \sum_{i=1}^{N} x_{i} represents the sum of all individual data points (from datapoint 1, to datapoint N)

Read More »1.5 Basic Statistical Concepts