Question

whs mathematics of personal finance t1 income data calculating measures of center raelyn’s weekly wages wages ($) 216 330 424 549 562 raelyn is working as a lifeguard at the local pool during the summer. her weekly wages are $424, $562, $330, $216, $330, and $549. what is the mean of raelyn’s wages? what is the median of raelyn’s wages? what is the mode of raelyn’s wages?

Explanation:

1. Mean Calculation

Step1: Sum all wages

The wages are $424, $562, $330, $216, $330, $549. Sum them: $424 + $562 + $330 + $216 + $330 + $549.
Calculation: \( 424 + 562 = 986 \); \( 986 + 330 = 1316 \); \( 1316 + 216 = 1532 \); \( 1532 + 330 = 1862 \); \( 1862 + 549 = 2411 \)

Step2: Divide by number of wages

There are 6 wages. So mean = \( \frac{2411}{6} \approx 401.83 \) (rounded to two decimal places)

Step1: Order the wages

Order the wages: $216, $330, $330, $424, $549, $562.

Step2: Find middle values (since n=6, even)

Middle values are 3rd and 4th: $330 and $424.

Step3: Calculate median (average of middle two)

Median = \( \frac{330 + 424}{2} = \frac{754}{2} = 377 \)

Step1: Identify frequency of each wage

• $216: 1 time
• $330: 2 times
• $424: 1 time
• $549: 1 time
• $562: 1 time

Step2: Find most frequent wage

$330 appears most (2 times).

Answer:

\( \approx 401.83 \)

2. Median Calculation