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The "mean" or average in Excel is represented by the symbol "x̄" (x-bar). To calculate the mean, you can use the AVERAGE function in Excel. This function adds up all the numbers in a selected range and divides the sum by the count of values in that range. For example, typing `=AVERAGE(A1:A10)` calculates the average of the numbers from cells A1 to A10. The result displays the mean value, which is crucial for data analysis. Understanding how to compute and interpret the mean aids in summarizing large datasets effectively.