Which measure of center will provide the most accurate estimation of the deposits for the savings account? Why?
1 answer:
Hello,
First you have order all the number least to the greater. That gives 30, 75, 80, 85, 85, 95, 95, 100, 100, 110.
Afterwards you have to find the median. Why ?
I will explain you. It's because the median is robust. In fact, it can't be influenced by extreme values (example : 110) but the mean yes. So the mean won't be accurate.
"Then why don't you choose the mode ? " you will ask me. That's because the mode takes the number which appears most often in a set of numbers. It couldn't be accurate at all. It will be useless for this set of numbers.
Furthermore, here there are 3 numbers which appears the most ( 2 times for each) : $85, $95 and $100. Which one will you take ?
Therefore the median is the most suitable and the most accurate to know the center because it is robust.
Now, let's find the median :
There are 10 values, so the median will be the average of the 5th and 6th values.
5th value = 85
6th value = 95
Therefore the median is 90.
Hope this helps !
Photon
First you have order all the number least to the greater. That gives 30, 75, 80, 85, 85, 95, 95, 100, 100, 110.
Afterwards you have to find the median. Why ?
I will explain you. It's because the median is robust. In fact, it can't be influenced by extreme values (example : 110) but the mean yes. So the mean won't be accurate.
"Then why don't you choose the mode ? " you will ask me. That's because the mode takes the number which appears most often in a set of numbers. It couldn't be accurate at all. It will be useless for this set of numbers.
Furthermore, here there are 3 numbers which appears the most ( 2 times for each) : $85, $95 and $100. Which one will you take ?
Therefore the median is the most suitable and the most accurate to know the center because it is robust.
Now, let's find the median :
There are 10 values, so the median will be the average of the 5th and 6th values.
5th value = 85
6th value = 95
Therefore the median is 90.
Hope this helps !
Photon
You might be interested in
Answer: Choice D
=====================================================
Explanation:
The left portion is the interval (-∞, -2)
This is a shorthand way of saying
The curved parenthesis says "do not include this endpoint as part of the solution set". Note the open hole at x = -2 in the diagram.
In contrast, the value x = 4 is included (due to the filled in circle), so we use a square bracket for this endpoint. Therefore, the right-hand portion is represented by [4, ∞) which translates to
Negative and positive infinity will always use a parenthesis, and never a square bracket. This is because we can only approach infinity but never reach it, so we cannot include it as an endpoint.
All of this builds up to the full interval notation to be
The only square bracket is near the 4; everything else is a curved parenthesis. This is why choice D is the final answer.