I invest $1000 in an account earning 6% compounded annually. How long will it take for the value to reach $1500?
1 answer:
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Answer:
(a) 12.87; 14; 18; (b) median
Step-by-step explanation:
(a) Statistics
(i) Mean
The mean is the sum of all the data points divided by the number of points.
(ii) Median
The median is the middle value in your list of observations.
0, 2, 3, 12, 12, 13, 14, 14, 15, 15, 18, 18, 18, 19, 20
Median = 14
(iii) Mode
The mode is the value that appears most often in your list of observations.
0, 2, 3, 12, 12, 13, 14, 14, 15, 15, 18, 18, 18, 19, 20
Mode = 18
(b) Most representative measure
The mean is dragged down by three low values. The median is the measure that is most representative of the data.
The histogram below shows the distribution of your data.
