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In Exercises, find the (a)mean, (b) median, | Ch 3.2 - 11BSC

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 11BSC Chapter 3.2

Elementary Statistics | 12th Edition

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Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

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Problem 11BSC

Problem 11BSC

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.

Ghost Prices Listed below are the prices listed for Norton Ghost 14.0 software from these vendors: Newegg, Dell, Buycheapsoftware.com, PC Connection, Walmart, and Overstock.com. For this collection of data values, are any of the measures of center the most important statistic? Is there a different statistic that is most relevant here? If so, which one?

Step-by-Step Solution:

Answer :

Step 1 of 1 :

Ghost Prices Listed below are the prices listed for Norton Ghost 14.0 software from these vendors: Newegg, Dell, Buycheapsoftware.com, PC Connection, Walmart, and overstock.com

$55.99 , $69.99 , $48.95 , $48.92 , $71.77 , $59.68

Now we have to find the (a)mean, (b) median, (c) mode, and

(d) midrange for the given sample data.

a).

Mean :

Mean is calculated by adding up all the number and dividing that sum by the total number of numbers.

The formula for Mean is

Here,

∑, represents the summation

X, represents Ghost Price

N, represents total number of Ghost Price.

Mean =

Mean =

Mean =

Mean = 59.216

Mean $ 59.22

Therefore Mean = $59.22

b).

Median :

Median is the middle value in the list of numbers. To calculate the Median value, the list should be arranged in the ascending order first.

48.92 , 48.95 , 55.99 , 59.68 , 69.9 , 71.77

The median is

Median =

Median =

Median = $57.84

c).

Mode :

It is the most frequently occurring value.

There is no mode.

d).

Midrange :

Another measure of center that is not as popular as the mode, mean and median is called the midrange.

The midrange is the mean of the maximum and minimum values of the data set.

The data set 48.92 , 48.95 , 55.99 , 59.68 , 69.9 , 71.77 has maximum 71.77 and minimum 48.92.

So the midrange =  

Mid Range = $60.36.

None of the measures of center are most important here.

The most relevant statistic in this case is the minimum value of $48.92, because that is the lowest price for the software. Here, we generally care about the lowest price not the mean price or median price.

Step 2 of 1

Chapter 3.2, Problem 11BSC is Solved
Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

This textbook survival guide was created for the textbook: Elementary Statistics, edition: 12. The answer to “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.Ghost Prices Listed below are the prices listed for Norton Ghost 14.0 software from these vendors: Newegg, Dell, Buycheapsoftware.com, PC Connection, Walmart, and Overstock.com. For this collection of data values, are any of the measures of center the most important statistic? Is there a different statistic that is most relevant here? If so, which one?” is broken down into a number of easy to follow steps, and 84 words. Elementary Statistics was written by and is associated to the ISBN: 9780321836960. This full solution covers the following key subjects: buycheapsoftware, Statistic, prices, most, listed. This expansive textbook survival guide covers 121 chapters, and 3629 solutions. Since the solution to 11BSC from 3.2 chapter was answered, more than 419 students have viewed the full step-by-step answer. The full step-by-step solution to problem: 11BSC from chapter: 3.2 was answered by , our top Statistics solution expert on 03/15/17, 10:30PM.

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In Exercises, find the (a)mean, (b) median, | Ch 3.2 - 11BSC