Which term is defined as the average of a data set?

Prepare for the SASB Fundamentals of Sustainability Accounting Level II Test. Study with multiple choice questions, gaining hints and explanations. Enhance your sustainability reporting skills and ace your exam!

Multiple Choice

Which term is defined as the average of a data set?

Explanation:
Mean is the average of a data set. It’s found by adding all the values and dividing by how many values there are, giving a single value that represents the overall level of the data. This uses every observation, which is why it’s the standard measure of the average. The other terms describe different ideas: the median is the middle value after ordering the data, the mode is the most frequent value, and the range is the difference between the largest and smallest values. Since only the mean combines all data points into one representative value, it’s the correct term for the average.

Mean is the average of a data set. It’s found by adding all the values and dividing by how many values there are, giving a single value that represents the overall level of the data. This uses every observation, which is why it’s the standard measure of the average. The other terms describe different ideas: the median is the middle value after ordering the data, the mode is the most frequent value, and the range is the difference between the largest and smallest values. Since only the mean combines all data points into one representative value, it’s the correct term for the average.

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