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The mean of a data set is found by summing all the elements, then dividing by the number of elements in the set. This is also called the "average."

The mean of set set {1,2,3,4,5} is (1+2+3+4+5) / 5 = 3

That is correct, but to be more specific, there are several kinds of mean: the most common are arithmetic and geometric. The geometric mean is the nth root of the product of the numbers, where n is the number of elements (numbers) in the set. When the kind of mean is not given, it usually means the arithmetic mean, which is defined as above.

Also, there are several kinds of averages: mean, median, and mode, where by mean is meant the arithmetic mean. But we are getting way outside the scope of the question so I will end my answer here.

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Q: What is calculating the ''mean'' of a data set?
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