An insurance institute conducted tests with crashes of new cars traveling at 6 mi/h. The total cost of the damages was found for a simple random sample of the tested cars and listed below. Find the (a) mean, (b) median, (c) mode, and (d) midrange for the given sample data. Do the different measures of center differ very much? $7 comma 542 $4 comma 853 $8 comma 989 $6 comma 294 $4 comma 215
Accepted Solution
A:
Answer:a. Mean = $6,358.2b. median = $6,275c. Mode = noned. Midrange = $6,647.5There is no much difference in the measures of center.Step-by-step explanation:==>Given:$7,402, $4,819, $8,969, $6,275, $4,326==>Required:a. Mean: sum of all values in the given sample data ÷ number of values in the sampleMean = ($7,402 + $4,819 + $8,969 + $6,275 + $4,326) ÷ 5= $31,791 ÷ 5Mean = $6,358.2b. Median: this is the meddle value if the data set when ordered. Ordering the data set, we have: $4,326, $4819, [$6,275], $7402, $8,969Our median is $6,275.c. Mode is the most common value in the data set. Therefore, we have no mode since there is no value in our data set that appears the most.d. Mid-range = (highest value + lowest value) ÷ 2= ($8,969 + $4,326) ÷ 2= 13,295 ÷ 2 = $6,647.5