What is the definition of the mean as 'fair share'?

The mean, often referred to as the average, is best understood through the concept of 'fair share.' When calculating the mean, you add all the values in a set and then divide that total by the number of values. This process gives a number that represents what each value would be if they were distributed evenly among all members of the set.

For instance, if you have a group of students who earned different scores on a test, the mean score would reflect what a score would be if everyone shared the total points equally. This means the mean represents a fair distribution of values, which aligns perfectly with the idea of 'fair share.'

In contrast, the other choices pertain to different statistical concepts. The least value indicates the minimum in the set, the most frequently occurring value refers to the mode, and half of the largest value does not correspond to any standard statistical measure used to summarize a set of numbers. Thus, the total divided evenly is the correct interpretation of the mean as 'fair share.'