Question

find the (a) mean, (b) median, (c) mode, and (d) mid - range 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? 1500 1000 1700 1000 1450 1050 1000 1150 1050 1900 1000 1600 a. find the mean. the mean is $ (type an integer or a decimal rounded to one decimal place as needed.)

Explanation:

Step1: Recall mean formula

The mean $\bar{x}=\frac{\sum_{i = 1}^{n}x_{i}}{n}$, where $x_{i}$ are data - points and $n$ is the number of data - points.

Step2: Count number of data - points

Count the number of selling prices. There are $n = 15$ data - points: 1500, 1000, 1700, 1000, 1450, 1050, 1000, 1150, 1050, 1900, 1000, 1600.

Step3: Calculate sum of data - points

$\sum_{i=1}^{15}x_{i}=1500 + 1000+1700 + 1000+1450+1050+1000+1150+1050+1900+1000+1600$
$=16400$.

Step4: Calculate the mean

$\bar{x}=\frac{16400}{15}\approx1093.3$.

Answer:

1093.3