Estimated Mean

• AKA sample mean
• Estimated mean is different from the population mean`
• Estimated mean is defined by $\bar{x}$ whereas population mean is defined by $\mu$

[!def] Formula of Sample Mean / Estimated Mean
$$
\bar{x} = \frac{\sum_i^N x_i}{N-1}
$$

• If we use N rather than N-1 on the denominator we will underestimate the value of the mean.