**MISSION 305**

# The Mean

Learn to use the mean to summarize the distribution of a variable.

#### Objectives

#### Mission Outline

1. Introduction

2. The Mean

3. The Mean as a Balance Point

4. Defining the Mean Algebraically

5. An Alternative Definition

6. Introducing the Data

7. Mean House Prices

8. Estimating the Population Mean

9. Estimates from Low-Sized Samples

10. Variability Around the Population Mean

11. The Sample Mean as an Unbiased Estimator

12. Next steps

13. Takeaways