5.2 Buy or Sell a Car2. Jeff is looking to sell his Camaro. He compiles these prices from the newspaper for cars just like his:$2,800; $17,600; $21,000; $19,900; and $23,000.a. Why is it more reasonable for Jeff to use the median, rather than the mean, to get a reasonableestimated price for his car?b. What is the difference ($) between the mean and the median?How bror ortSIT

Jeff is looking to sell his Camaro. He compiles these prices from the newspaper for cars just like…

Answered: a. Why is it more reasonable for Jeff…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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The mean purchase total is $93.80 and the median purchase total is $75.80. The store manager investigates and learns that the customer that made a $500 purchase had not purchased groceries, but rather a $500 gift card. Because this customer's purchase was not typical, the manager decides to exclude this total from the data set. How will removing the $500 purchase from the data set affect the value of the mean and the median?
In a survey, the median household income in a country was found to be £27000, and the mean household income was £53000. a) Explain how the median and mean are calculated. b) What explains the difference in the two averages?
The line drawn within the box of the box-and-whisker plot represents the mean. TRUE FALSE
d. equals the national mean of $55.4 thousand.e. exceeds the national mean of $55.4 thousand.
which statement is correct?
You saw back in Chapter 2 that the mean, median, mode, and midrange are used to indicate where data is centered in a data set, or in other words what a typical value in the set is. A question that is often asked is, "If they're all supposed to do the same thing, why is there more than one?" Isn't one enough? In this exercise, you will be given two small sets of data. For each set, a. find the mean, median, mode and midrange b. in your opinion, decide which of the measures BEST represents all the values in the set (best indicates a typical value), and which one does this the WORST. c. post your responses and justify them by explaining why Don't forget to respond to at least one of your classmate's posts. With this exercise, "more is better." I'll elaborate after the deadline. • Set A: the salaries of 10 employees at a company (in thousands of dollars): 50, 50, 50, 50, 50, 50, 50, 50, 50, 500 • Set B: the grades of 9 students on an exam: 20, 25, 30, 35, 40, 45, 100, 100, 100
A. What is the median? B. What is the mean? c. What is the precise median?
For the following scores, calculate the mean, median, mode, and range. 2, 25, 22, 24, 22, 23
What is the mean of .27, .63, .45, .25, .31, 1.15, .64, 1.33, 1.14, 0.41, 0.47
A business reports that their average salary is over $91,000, the simple mean of the salaries listed in the chart. Alternatively, instead of a simple mean, the business could report the median, or the mode. Which would be the most useful to someone deciding whether to apply for an entry level job at this business? Job Number of Employees Salary Line workers 10 $30,000 Office manager 1 $45,000 CEO 1 $200,000 Select one: a. Simple mean is best b. Simple mean and median are nearly equal numerically. They are equally good for this purpose and better than the other options. O c. Simple mean and mode are equally good for this purpose and better than the other options. d. Median and mode are about equally good for this purpose and better than other options.
In a survey that asked individuals about their favorite styles of music, 37 replied rock, 27 said they preferred pop music, 14 stated they like classical music the most, and 3 individuals stated they preferred opera. Based on this data, what would be the mode? Why couldn’t the mean or median be used to describe this set of values?
I need an answer for number 5

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a. Why is it more reasonable for Jeff to use the median, rather than the mean, to get a reas estimated price for his car? b. What is the difference ($) between the mean and the median?