SoftGuide > Functions / Modules Designation > Mean values

Mean values

What is meant by Mean values?

The term "averages" refers to metrics that represent a central value within a distribution of data. The most common averages are the arithmetic mean, median, and mode. Averages are used to provide a summary description of data and help identify and compare central tendencies in datasets.

Typical software functions in the area of "averages":

  1. Calculation of Arithmetic Mean: Determining the average value by summing all values and dividing by the number of values.
  2. Calculation of Median: Identifying the middle value in a sorted dataset that divides the data into two halves.
  3. Calculation of Mode: Determining the most frequently occurring value in a dataset.
  4. Comparison of Averages: Analyzing and comparing averages from different datasets or groups to identify differences and trends.
  5. Visualization of Averages: Representing averages through charts or graphs for better illustration and interpretation.
  6. Error Analysis and Outlier Detection: Examining averages for distortions caused by outliers and calculating robustness metrics.

 

The function / module Mean values belongs to:

Statistics/Forecast

classification and regression trees
Course participant and learning statistics
Customer and sales data analysis
Customer evaluations
Econometric and statistical analyses
Linked data management
Mandate analysis
Metropolis algorithm
Network Statistics
Predictions
Utilization analysis according to loss classes

Software solutions with function or module Mean values: