What is the calculation called that results in the average value of a dataset?

The calculation that results in the average value of a dataset is known as the mean. The mean is found by adding all the numbers in a dataset together and then dividing that sum by the total quantity of values in the dataset. This provides a single value that represents the central tendency of the data, making it a useful summary statistic for understanding the overall distribution of values.

In comparison to the other terms, the median refers to the middle value when a dataset is ordered, and the mode is the value that appears most frequently in the dataset. Variance, on the other hand, measures how much the values in a dataset differ from the mean, providing insight into the spread or dispersion of the data rather than the average itself. Thus, the mean specifically denotes the average value, making it the correct choice in this context.