Essay on Statistics

1198 Words Aug 11th, 2016 5 Pages
1.The advertised prices for 10 used cars were as follows:
10495, 15886, 10900, 19500, 9950, 13000, 15900,16000, 14800, 13500
a. Determine the average price
The average price (Mean) =(10495+15886+10900+19500+9950+13000+15900+16000+14800+13500)/10
Mean = 139931/10 = 13993.1
The average price = 13993.1
b. Determine the median car price
9950 ,10495 , 10900 , 13000 , 13500 ,14800 ,15886 ,15900 ,16000, 19500
Median = (13500+14800) /2 =14150

2.An auctioneer sold 500 lots of restaurant equipment as follows
# of lots
200
150
60
50
40
500

price per lotweighted price
20
4000
22
3300
28
1680
30
1500
50
2000
150
12480 Total

Compute the average price per lot
12480 / 500 =25

Do not round to closest dollar
The
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The height in metres of a group of stores along Younge street in Toronto are as follows
21
26

21
26

13
28

13
28

12
28

a. Determine the mean and median
5,8,11,12,13,13,21,21,26,26,28,28,28,28,30,30

Total
$1,300
16
The Mean = (5+8+11+12+13+13+21+21+26+26+28+28+28+28+30+30)/ 16 = 20.5
$4,850
The Median = (21+26) /2 = 23.5
$303.13
b .Estimate the value of the mode using the values obtained in a – and employing the formula:
MEAN − MODE = 3(MEAN – MEDIAN)
20.5-Mode =3 ( 20.5 - 23.5)
The Mode is = 29.5 by using the formula
11

8

5

C. Determine the actual value of the mode .
The actual value of the Mode is = 28

28

30

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