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www.webassign.net/web/Student/ Assignment-Responses /submit?dep-18 143446 89 s0 70 60 365 ss s00 71 41 350 60 so 240 45 45 125 235 65 60 110 (a) Compute the mean, median, and mode for the data. (Round your answers to two decimal places.) mean $ median $ mode (b) Compute a 5% trimmed mean for the data, and compa Does the trimmed mean more accurately reflect the general level of the daily rental costs? O Yes, the trimmed mean is closer to the median and mode. O Yes, the trimmed mean is further from the median and mode O No, the trimmed mean is further from the median and mode No, the trimmed mean is closer to the median and mode. cost of renting a condominium on Maui, what average would you use? Explain. O mean O median O mode is there any other information about the costs that you think might be useful, such as the spread of the costs? No other information about condominium costs would be useful. The average price of a in 1980 would also be useful The lowest and

Explanation / Answer

Mean = sum of all values / total number of values = 2686/20 = 134.3

For even number of values we find median as

step 1) first arrange all the values in increasing order

step 2 ) taken two middal values as (n/2)th and { (n/2) + 1}th value from the arrange data set

In this example these values are 65 and 70 respectively

Step 3) take the mean of the two values in step 2

so that Median = (65 + 70)/2 = 67.5

Mode = most repeated value in the data set = 60

Mean = 134.3

median = 67.5

mode = 60

5% of 20 is 1 so we need to eliminate first and last value in the arrange data set and then find the mean of remaining 18 values

The sum of the 18 values = 2145

So trimmed mean = 2145/18 = 119.17

The correct answer is 3 "NO, the trimmed mean is further from the median and mode".

Median is used as the average

Because median is the least affect to the extreme values.

yes the lowest and the highest prices also useful.

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