Question

find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions. listed below are selling prices (dollars) of tvs that are 60 inches or larger and rated as a \best - buy\ by a popular magazine. are the resulting statistics representative of the population of all tvs that are 60 inches and larger? if you decide to buy one of these tvs, what statistic is most relevant, other than the measures of central tendency? 1400 1500 1850 1500 1100 1300 1500 1250 1300 1550 1500 1750 a. find the mean. the mean is $. (type an integer or a decimal rounded to one decimal place as needed.)

Explanation:

Step1: Recall the mean formula

The mean $\bar{x}=\frac{\sum_{i = 1}^{n}x_{i}}{n}$, where $x_{i}$ are the data - points and $n$ is the number of data - points.
Here, $n = 12$ and the data points are $x_1=1400,x_2 = 1500,x_3=1850,x_4 = 1500,x_5=1100,x_6 = 1300,x_7=1500,x_8 = 1250,x_9=1300,x_{10}=1550,x_{11}=1500,x_{12}=1750$.

Step2: Calculate the sum of data points

$\sum_{i = 1}^{12}x_{i}=1400 + 1500+1850+1500+1100+1300+1500+1250+1300+1550+1500+1750$
$=17500$.

Step3: Calculate the mean

$\bar{x}=\frac{\sum_{i = 1}^{12}x_{i}}{12}=\frac{17500}{12}\approx1458.3$.

Answer:

$1458.3$