The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Mean Value

  • Chew Soo Hong
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_1208

Abstract

What is mean value? Conventional wisdom tells us that it represents, typifies or in some way measures the central tendency of a distribution. Familiar examples of mean value include the median, mode, arithmetic mean, geometric mean, harmonic mean and root-mean-square or more generally the rth root of the rth moment of a positive random variable.

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Chew Soo Hong
    • 1
  1. 1.