MEAN MEDIAN MODE MIDRANGECOMPARE AVERAGES, WHICH TWO ARE THE BEST MEASURE? Top-Paid CEOs The data shown are the total compensation (in millions of dollars) for the 31 top-paid CEOs for a recent year. Compare the averages, and statewhich one you think is the best measure.17.2 17.2 17.3 17.421.4 21.6 22.9 23.225.9 29.1 36.8 37.617.5 18.2 19.3 19.7 19.8 20.0 20.1 20.424.1 24.3 25.0 25.1 25.2 25.2 25.4 25.538.5 41.7 47.7Send data to ExcelPart: 0 / 5Part 1 of 5Find the mean.Rounding rule for the mean: round to one more decimal place than the data as needed.Mean:×Ś

Answered: Top-Paid CEOs The data shown are the…

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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MEAN MEDIAN MODE MIDRANGE

COMPARE AVERAGES, WHICH TWO ARE THE BEST MEASURE?

Top-Paid CEOs The data shown are the total compensation (in millions of dollars) for the 31 top-paid CEOs for a recent year. Compare the averages, and state
which one you think is the best measure.
17.2 17.2 17.3 17.4
21.4 21.6 22.9 23.2
25.9 29.1 36.8 37.6
17.5 18.2 19.3 19.7 19.8 20.0 20.1 20.4
24.1 24.3 25.0 25.1 25.2 25.2 25.4 25.5
38.5 41.7 47.7
Send data to Excel
Part: 0 / 5
Part 1 of 5
Find the mean.
Rounding rule for the mean: round to one more decimal place than the data as needed.
Mean:
×
Ś

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

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