Mean and median, Applied Statistics

Assignment Help:

The amounts of money won by the top ten finishers in a famous car race are listed below.
$1,172,246    $163,659    $440,584    $350,634     $290,596
$186,731    $145,809     $143,209     $139,096     $125,106

(a) Find the mean and median winnings. Round the median to the nearest dollar.  

(b) Which measure- the mean or the median- best represents the data? Define your reasoning.

(c)  Explain the shape of the histogram. (  Use the mean and median values)


Related Discussions:- Mean and median

Hypothesis, What is a null hypothesis? ..

What is a null hypothesis? ..

Cluster analysis, Cluster Analysis could be also represented more formally ...

Cluster Analysis could be also represented more formally as optimization procedure, which tries to minimize the Residual Sum of Squares objective function: where μ(ωk) - is a centr

Simple random sampling, Simple Random Sampling In Simple Random Sampli...

Simple Random Sampling In Simple Random Sampling each possible sample has an equal chance of being selected. Further, each item in the entire population also has an equal chan

Estimate the standard deviation of the process, Estimate the standard devia...

Estimate the standard deviation of the process: Draw the X (bar) and R charts for the data given and give your comments about the process under study. Estimate the standard de

Standard deviation , Standard Deviation  The concept of standard deviat...

Standard Deviation  The concept of standard deviation was first introduced by Karl Pearson in 1893. The standard deviation is the most important and the popular measure of disp

Mode for grouped data, Grouped Data For calculating mode from a...

Grouped Data For calculating mode from a frequency distribution, the following formula   Mode = L mo +  x W where,

Initial centroids data set, Find unlabeled data set test.txt and initial ...

Find unlabeled data set test.txt and initial centroids data set centroids.txt in the archive, both files have the following format: [attribute1_value attribute2_value ...

Advantages of median, Advantages It is especially useful in c...

Advantages It is especially useful in case of open-end classes since only the position and not the values of items must be known. The median is also recommended if th

Find the rank correlation coefficient, 1. Calculate the mean and mode of: ...

1. Calculate the mean and mode of: Central size 15 25 35 45 55 65 75 85 Frequencies 5 9 13 21 20 15 8 3 The following data shows the monthly expenditure of 80 students of

Index Number of formulae, discuss the mathematical test of adequacy of inde...

discuss the mathematical test of adequacy of index number of formulae. prove algebraically that the laspeyre, paasche and fisher price index formulae satisfies this test. What is

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd