American Institute of Certified Planners (AICP) Practice Exam

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What is the mean in a dataset?

The middle value in a distribution
The mode of the distribution
The average of the distribution
The highest value minus the lowest value

The correct answer is: The average of the distribution

The mean in a dataset is defined as the average of the distribution. This is calculated by summing all the values in the dataset and then dividing that sum by the total number of values. It provides a central value that represents the typical level of the data, making it a crucial statistic in understanding the overall trend or average of that dataset. In the context of data analysis, the mean is particularly valuable because it takes into account every value in the dataset, thus providing a comprehensive overview. It can help in comparing different datasets or understanding the general behavior of the values involved. The other options describe different statistical measures. The middle value in a distribution corresponds to the median, which represents the point separating the higher half from the lower half of the dataset. The mode refers to the most frequently occurring value in the dataset, which provides information about the most common data point but not about the overall average. Lastly, the highest value minus the lowest value describes the range of the dataset, which indicates the spread of the values but does not provide insight into their average or central tendency.