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swat32
3 years ago
10

Market researchers often compute the “mean” or average of data collected. Wha is the mean income of the following three people s

urveyed? Person A: $34,000, Person B: $44,000, Person C:$21,000
Business
1 answer:
zheka24 [161]3 years ago
7 0

Answer: The mean income of the three people surveyed is $33,000.

The mean or average of a data set is nothing but the sum total of all the observations in a given set of data divided by the number of observations.

The formula for calculating the mean is:

\mathbf{\overline{X} = \frac{X_{1}+X_{2}+X_{3}.....+X_{n}}{N} }

where

\overline{X} is the mean or average

X₁ , X₂, X₃ .......Xn refers to the observations

N is the total number of observations

Substituting the values in the formula for mean we get,

\mathbf{\overline{X} = \frac{34000+44000+21000}{3}}

\mathbf{\overline{X} = \frac{99000}{3}}

\mathbf{\overline{X} = 33,000}






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