AACE CCT Practice Exam 2025 – Complete Prep Resource

The sum of measurements divided by the number of measurements is known as the mean. The mean provides a measure of central tendency, representing the average value in a set of data. It is calculated by adding together all the individual measurements and then dividing that total by the count of those measurements. This method gives an overall picture of the data set, making it easier to identify trends and make comparisons.

In contrast, the median reflects the middle value when the measurements are arranged in ascending or descending order, which can differ significantly from the mean, especially in skewed distributions. The mode indicates the most frequently occurring measurement in the data set, whereas variance measures the degree of spread or dispersion within the dataset, reflecting how much the individual measurements differ from the mean. Each of these concepts serves a different purpose within statistics, but the mean is specifically defined as the sum of measurements divided by their count.