Trimmed Mean Definition Calculation Formula Examples
Trimmed Mean Definition Key Takeaways Trimmed mean is a statistical measure that gets rid of percentage of observations from a given list before performing mean calculations. The eradication of the values occurs from the lower and upper end of the given set of observations. It is also referred to as truncated mean, it provides a more reliable statistical mean value by reducing standard errorsStandard ErrorsStandard Error (SE) is a metric that measures the accuracy of a sample distribution that signifies a population by using standard deviation....