To calculate the mean, sum up all the data points and divide by the number of data points. The formula is: Mean (μ) = (ΣX) / N Where ΣX is the sum of all values, and N is the number of values. For example, if a company wants to find the average sales of five products with sales figures of 100, 150, 200, 250, and 300, the mean would be (100+150+200+250+300)/5 = 1000/5 = 200.