Question

1. kate is a professional musician. she wants to make an essential purchase of an upgraded used bass guitar for her work. she found the following prices for the same make and model bass guitar from various sellers: $699, $599, $699, $680, $590, $720, $650, $800 a. what is the mean price? round your answer to the nearest cent. b. what is the median price? c. what is the mode price?

Explanation:

Step1: Calculate sum of prices

$699 + 599+699+680+590+720+650+800=5437$

Step2: Calculate mean

The number of data - points $n = 8$. Mean $\bar{x}=\frac{5437}{8}=679.625\approx679.63$

Step3: Arrange prices in ascending order

$590,599,650,680,699,699,720,800$

Step4: Calculate median

Since $n = 8$ (even), median $=\frac{680 + 699}{2}=\frac{1379}{2}=689.5$

Step5: Find mode

The mode is the number that appears most frequently. Here, $699$ appears twice and other numbers appear once, so mode $ = 699$

Answer:

a. $679.63$
b. $689.5$
c. $699$