Question

The two data sets show random samples of the costs, in dollars, of cars purchased at two dealerships yesterday.

Answer 1

A) The mean of set 1 is 53,800, while the mean of set 2 is 38,600. The median of set 1 is 42,000, while the median of set 2 is 28,000.
B) The median is a more accurate estimate, because each set has 1 particularly large outlier which heavily skews the mean. In each set, the mean is actually higher than 4 out of the 5 data points, which is not very accurate in describing how much the typical car costs.