The symbol "x̄" represents the mean or average of a set of values in statistics. It is calculated by adding all the values together and dividing by the number of values. This notation helps summarize data and provides a central point around which the values tend to cluster. In the context of a data set, x refers to individual data points, while "x̄" gives a quick overview of the overall trend. Understanding "x̄" is essential for analyzing data in various fields, including mathematics, economics, and social sciences.