Given some numerical dataset, we can calculate the average value μ using the equation:
[tex]\mu=\frac{\sum ^n_{i\mathop=1}x_i}{n}[/tex]Where xi is one element of the dataset, and n is the number of elements. Then, if the dataset is:
[tex]33,35,18,48,29[/tex]The average value is (n = 5):
[tex]\mu=\frac{33+35+18+48+29}{5}=32.6[/tex]