Routledge Dictionary of Economics, Second Edition
The sum of the differences between the numbers of a set and the ARITHMETIC MEAN of the set, divided by the number of numbers in that set, e.g.
for the set 3, 4, 5, 6, 7 whose arithmetic mean is 5, the mean deviation is [(3−5)+(4−5)+(5 −5)+(6−5)+(7−5)] divided by 5, i.e. 1.2, ignoring signs after the differences have been calculated.
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