MATLAB: An Introduction with Applications
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ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Find the (a) mean , (b) median , (c) mode , and (d) midrange for the data and then (e) answer the given questions.
Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision?
275
200
185
165
155
155
135
135
135
135
a. Find the mean.
The mean is
$nothing
million.(Type an integer or a decimal rounded to one decimal place as needed.)
b. Find the median.
The median is
$nothing
million.(Type an integer or a decimal rounded to one decimal place as needed.)
c. Find the mode.
Select the correct choice below and, if necessary, fill in the answer box to complete your choice.
The mode(s) is(are)
$nothing
million.(Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.)
There is no mode.
d. Find the midrange.
The midrange is
$nothing
million.(Type an integer or a decimal rounded to one decimal place as needed.)
e. What do the results tell us about the population of all celebrities?
Apart from the fact that all other celebrities have amounts of net worth lower than those given, nothing meaningful can be known about the population.
The results tell us that the most common celebrity net worth is the mode, but all other celebrities are expected to have net worths approximately equal to the mean, median, or midrange.
The results tell us that all celebrities are expected to have amounts of net worth approximately equal to one of the measures of center found in parts (a) through (d).
Apart from the fact that all other celebrities have amounts of net worth lower than those given, the results in parts (a), (b), and (d) do not given meaningful results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode.
Based on the nature of the amounts, what can be inferred about their precision?
Expert Solution
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(a)
The mean of the data is given by
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