Definition of "Mean"

Rick Toye real estate agent
Rick Toye, Real Estate Agent Coldwell Banker

Measure of central tendency that is a measure of the center of the data; also called an average. Mean and standard deviation are the two most widely used statistical measures that summarize the characteristics of the data. Suppose a real estate agency sells 630 houses during a 30-day period. Then the mean (average) daily sales is obtained by dividing the total number of homes sold by the number of days as follows :

Have a question or comment?
We're here to help.

*** Your email address will remain confidential.


Popular Real Estate Terms

Popular Real Estate Questions