Not totally exactly. Reason I say this, is if you look up mean in a dictionary, it will have a synonym of average, but in some of my old books, its synonym is median which is the middle of a bunch of numbers. So if you have 100 numbers, number 50.5 would be your median but you average might be totally different.

Std. Dev. is important and does help in development in the engineering world but is only useful in shooting if you have alot of samples. I know alot of people go by extreme spread, and that works, but std. dev. kinda ignores what they call outliars or that occasional flyer.

So you would say "expect velocitys of 3400fps +/- 100fps", even though you had 3 shots out of a 100 that got velocities of 3100 fps.