In Exercises, find the (a)mean, (b) median, (c) mode, and (d) midrange for the given sample data. Express answers with the appropriate units of measurement. Then answer the given questions.
Top 10 Most Expensive Colleges Listed below are the annual tuition amounts of the 10 most expensive colleges in the United States for a recent year. The colleges listed in order are Sarah Lawrence, NYU, George Washington, Bates, Skidmore, Johns Hopkins, Georgetown, Connecticut College, Harvey Mudd, and Vassar. What does this “Top 10” list tell us about the population of all U.S. college tuitions?
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(a) The "Mean" is computed by adding all of the numbers in the data together and dividing by the number elements contained in the data set.
Mean = = $51596.6
(b) The "Median" of a data set is dependant on whether the number of elements in the data set is odd or even. First reorder the data set from the smallest to the largest then if the number of elements are odd, then the Median is the element in the middle of the data set. If the number of elements are even, then the Median is the average of the two middle terms.