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Re-arrange the sales data in ascending order. There 17 data points, n=17. (i) Mean. Interpret this result. (ii) Median. Interpret the result. Mode. Interpret. Range. Interpret.
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Step-by-step solution
8 stepslet's get this question finalized, James. You've correctly identified the number of data points and the general approach, but there are a few corrections needed in your ordered list and the sum, which affects the mean.
Question #1)
Calculate the mean, median, mode, and range for the following sales data:
$1700; $2200; $2400; $2900; $1800; $3700; $1200; $2300; $600; $1600; $2000; $3900; $1100; $1700; $2900; $2900; $2900.
Correct the ordered data.
The original dataset has one 2300, one 2900s. Your ordered list had two 2900s, and was missing one 600, 1200, 1700, 1800, 2200, 2400, 2900, 2900, 3900. There are data points.
Calculate the mean.
First, let's sum the values from the correct ordered list:
Your sum of 37,600.
Now, calculate the mean:Rounding to two decimal places:
The mean is\boxed{\mathbf{\2211.76}}$.Interpret the mean.
The mean of 2211.76. It represents the central tendency of the sales data.
Calculate the median.
Since there are 17 data points (an odd number), the median is the -th value in the ordered list.
Counting to the 9th value in the correct ordered list:
.
The 9th value is \boxed{\mathbf{$2200}}$.Interpret the median.
The median of $2200 means that half of the sales values are below $2200 and half are above $2200. It is the middle value of the dataset when arranged in order.
Calculate the mode.
The mode is the value that appears most frequently in the dataset.
In the correct ordered list, the value \boxed{\mathbf{$2900}}$.Interpret the mode.
The mode of $2900 indicates that $2900 is the most common sales value in this dataset.
Calculate the range.
The range is the difference between the maximum and minimum values in the dataset. The range is
\boxed{\mathbf{\3300}}$.
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