Question

Below are monthly rents paid by 30 students who live off campus. 590 590 590 790 560 450 550 890 600 480 580 520 420 600 510 520 710 775 460 480 620 550 570 365 590 660 680 700 580 630 Click here for the Excel Data File (a) Using Excel, find the mean, median, mode, and standard deviation. (Round your answers to 2 decimal places.) Descriptive Statistics Data Mean 587 Median 585 Mode 590 Standard Deviation 112.54 (b) Which measure or measures of central tendency are most appropriate for this data set

Answer 1

Answer:

(a) Mean = 587

    Median = 585

    Mode = 590

    Standard deviation = 112.54

(b) Mean and median are both appropriate as they are close in value, suggesting that the data is quite symmetric.  

Explanation:

All four measures are calculated by inserting simple formulas in Excel. These are shown in the below screenshot of the work file.