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The symbol "x̄" (x bar) represents the mean or average of a set of values in statistics. In Excel, computing the mean can be done using the AVERAGE function. To use this function, start by typing `=AVERAGE(` followed by the range of cells containing the data, and then close the parenthesis. For example, `=AVERAGE(A1:A10)` calculates the average of the values from cells A1 to A10. Additionally, Excel provides tools to display the mean visually for better comprehension, such as charts or descriptive statistics in the Data Analysis Toolpak. Understanding the mean is crucial for data analysis and interpretation in various applications.