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    #1

    mean price or average price?

    I understand that mean price = average price.

    I think everyone understands average price since "average" is a word that everyone knows.

    Does everyone understands the meaning of mean price?

    Which one is more commonly used?

  1. Raymott's Avatar
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    #2

    Re: mean price or average price?

    'Average' is certainly used more often than 'mean'. A "mean price" sounds nasty (or especially good in some slang), and I doubt if the average person would be sure about the meaning of "the mean price". At least where I come from, it's a mathematical term, and the average (mean?) person would not be able to tell you the difference between the mean, the median and the modal price.

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    #3

    Re: mean price or average price?

    NOT A TEACHER
    I'm a learner but I still understand what "mean price" means, and I believe this term is correct and equivalent to "average price".
    However, I guess "average price" might be somewhat more common.
    Please notify me of any mistakes in my posts. It is much appreciated.

  2. Matthew Wai's Avatar
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    #4

    Re: mean price or average price?

    The Oxford Dictionary marks it as 'technical', see http://www.oxfordlearnersdictionarie...english/mean_2 Definition#5
    So it may be not commonly used in everyday life.

    Not a teacher.

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    #5

    Re: mean price or average price?

    Quote Originally Posted by Raymott View Post
    'Average' is certainly used more often than 'mean'. A "mean price" sounds nasty (or especially good in some slang), and I doubt if the average person would be sure about the meaning of "the mean price". At least where I come from, it's a mathematical term, and the average (mean?) person would not be able to tell you the difference between the mean, the median and the modal price.
    NOT A TEACHER
    Being a science-majored student, I consider "mean" one of the most rudimentary terms of all, though I'm not sure about the general masses.
    As I see it, I believe what terms people use should depend on their purposes (e.g. who they're targeting by their essay), on the context, and on their working environments.
    What do you think of my thought?
    Please notify me of any mistakes in my posts. It is much appreciated.

  3. MikeNewYork's Avatar
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    #6

    Re: mean price or average price?

    I think there is a large percentage of the population who do not know that definition of "mean".

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    #7

    Re: mean price or average price?

    Arithmetic mean or geometric mean?

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    #8

    Re: mean price or average price?

    Quote Originally Posted by SoothingDave View Post
    Arithmetic mean or geometric mean?
    NOT A TEACHER
    In my opinion, unless specifically stated, "mean" always implies "arithmetic mean".
    Please notify me of any mistakes in my posts. It is much appreciated.

  4. MikeNewYork's Avatar
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    #9

    Re: mean price or average price?

    The point is about what regular people understand. Not everyone has a science and math background.

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