Question 135423: The American Automobile Association checks the prices of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit, Michigan, area.
1.44
1.42
1.35
1.39
1.49
1.49
1.41
1.46
1.41
1.49
1.45
1.48
1.39
1.46
1.44
What is the arithmetic mean selling price?
What is the median selling price?
What is the modal selling price?
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The American Automobile Association checks the prices of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit, Michigan, area.
1.44
1.42
1.35
1.39
1.49
1.49
1.41
1.46
1.41
1.49
1.45
1.48
1.39
1.46
1.44
What is the arithmetic mean selling price?
Ans: $1.438
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What is the median selling price?
Ans: 1.44
What is the modal selling price?
Ans: It is multi-modal: $1.44 and $1.41 and $1.46 and $1.39 all have two entries. In other words, there is no modal selling price.
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Question: If you are taking a stat course, and do not have a calculator
or access to computer software that can give you mean, median, mode, standard
deviation etc. data, I strongly recommend you locate one or the other; you
will need it.
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Cheers,
Stan H.
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