Answer:
a. Mean = $6,358.2
b. median = $6,275
c. Mode = none
d. Midrange = $6,647.5
There is no much difference in the measures of center.
Step-by-step explanation:
==>Given:
$7,402, $4,819, $8,969, $6,275, $4,326
==>Required:
a. Mean: sum of all values in the given sample data ÷ number of values in the sample
Mean = ($7,402 + $4,819 + $8,969 + $6,275 + $4,326) ÷ 5
= $31,791 ÷ 5
Mean = $6,358.2
b. Median: this is the meddle value if the data set when ordered. Ordering the data set, we have:
$4,326, $4819, [$6,275], $7402, $8,969
Our median is $6,275.
c. Mode is the most common value in the data set. Therefore, we have no mode since there is no value in our data set that appears the most.
d. Mid-range = (highest value + lowest value) ÷ 2
= ($8,969 + $4,326) ÷ 2
= 13,295 ÷ 2 = $6,647.5
