Question

section 4.5 homework
score: 1/9 answered: 1/9
question 2
suppose that in a small town of 30 people, one person earns $200000 per year and the other 29 each earn $30000. compute the mean and the median (round the answer to 2 decimal places)
mean:
median:
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Explanation:

Step1: Calculate the sum for mean

The sum of all earnings is \(200000 + 29\times30000=200000 + 870000 = 1070000\).

Step2: Calculate the mean

The mean \(\bar{x}=\frac{\text{Sum of all values}}{\text{Number of values}}\). Here, the number of people \(n = 30\). So, \(\bar{x}=\frac{1070000}{30}\approx35666.67\).

Step3: Calculate the median

Arrange the data in ascending - order. Since there are \(n = 30\) (an even number of data - points), the median is the average of the \(\frac{n}{2}\)th and \((\frac{n}{2}+1)\)th ordered values. When the data is arranged, the 15th and 16th values are both \(30000\) (because 29 of the values are \(30000\)). So, the median \(M = 30000.00\).

Answer:

Mean: \(35666.67\)
Median: \(30000.00\)