Shauna borrows $400 from her parents to buy a phone. She agrees to pay them back plus 4% simple interest over one year. Use this
2 answers:
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Answer:
a) We can calculate the mean with the following formula:
And replacing we got:
And for the median first we need to order the dataset on increasing way:
50, 60, 65, 70, 350
Since the sample size is an odd number we can calculate the median as the middle position for the dataset, for this case the 3th position and we got:
Median = 65
b) For this case we can see that we have an outlier present in the data 350, and for this case if we want to give a measure of central tendency is better use the median since this meaure is not affected by outliers. So Lauren should use the median.
Step-by-step explanation:
For this case we have the following data:
350, 70, 65, 50, 60
Part a
We can calculate the mean with the following formula:
And replacing we got:
And for the median first we need to order the dataset on increasing way:
50, 60, 65, 70, 350
Since the sample size is an odd number we can calculate the median as the middle position for the dataset, for this case the 3th position and we got:
Median = 65
Part b
For this case we can see that we have an outlier present in the data 350, and for this case if we want to give a measure of central tendency is better use the median since this meaure is not affected by outliers. So Lauren should use the median.