Help please on this math problem: The prices of backpacks at a store are 22, 16, 39, 35, 19, 34, 20, and 26. Find the Mean Absol ute Deviation (MAD) of the prices. *i just don’t know if I should round the price to divide, since the answer for the mean ends up being a decimal.*
1 answer:
Answer: 7.22 (note: this is a result after rounding. The result before rounding was 7.21875) ======================================================== Explanation: Given Set of Values = {22, 16, 39, 35, 19, 34, 20, 26} Add up the values: 22+16+39+35+19+34+20+26 = 211 Divide that sum by 8 as there are 8 values: 211/8 = 26.375 The mean is 26.375 Now subtract the mean from each data value. Apply the absolute value to ensure the difference is never negative |22 - 26.375| = 4.375 |16 - 26.375| = 10.375 |39 - 26.375| = 12.625 |35 - 26.375| = 8.625 |19 - 26.375| = 7.375 |34 - 26.375| = 7.625 |20 - 26.375| = 6.375 |26 - 26.375| = 0.375 Add up those results 4.375+10.375+12.625+8.625+7.375+7.625+6.375+0.375 = 57.75 Then divide by 8 57.75/8 = 7.21875 The mean absolute deviation of the prices is 7.21875 Rounded to two decimal places, it is 7.22 Since we're talking about money, it makes sense to round to the nearest penny.
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