Next year Phil and Matt may sell the cookies for $50 each. They plan to make the same total number of cookies, but they predict
that they will only sell of them given the price increase. Based on their prediction, should Phil and Matt raise the price of the cookies? Justify your answer.
Enter your answer and your justification in the box provided.
Enter your answer and your justification in the box provided.
1 answer:
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Answer:
The correct option is A:
MAD = 1 + 1/4
Step-by-step explanation:
For a set of N elements {x₁, x₂, ..., xₙ}
The mean is calculated as:
And the mean absolute deviation is calculated as:
Here we have the set of 8 elements:
{ 2, 2, 3, 4, 4, 5, 6, 6}
The mean of this set is:
M = (2 + 2 + 3 + 4 + 4 + 5 + 6 + 6)/8 = 4
Then the mean standard deviation is:
If we simplify this, we get:
MAD = 10/8 = 5/4 = (4 + 1)/4 = 4/4 + 1/4 = 1 + 1/4
MAD = 1 + 1/4
The correct option is A.