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One meaning could be "Arithmetic Mean". Thus is you have a sample set containing number say 1, 4, 5, 2, 7, 9, 21, 12, then the Arithmetic mean would be the sum of the numbers divided by the number of numbers. In this case it would be (1 + 4 + 5 + 2 + 7 + 9+ 21 + 12)/8 = 61/8 = 7 and 5/8

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Q: What does AM mean in math?
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