the prices of a plane ticket on 10 different airlines from new orleans to green bay are $216, $213, $388…

the prices of a plane ticket on 10 different airlines from new orleans to green bay are $216, $213, $388, $141, $298, $172, $376, $344, $325, and $265. what is the mean absolute deviation of the prices? provide an answer accurate to the nearest hundredth. (note: answers will be accepted within .03 of gmms expected answer to account for variations in rounding during the solving process.)

the prices of a plane ticket on 10 different airlines from new orleans to green bay are $216, $213, $388, $141, $298, $172, $376, $344, $325, and $265. what is the mean absolute deviation of the prices? provide an answer accurate to the nearest hundredth. (note: answers will be accepted within .03 of gmms expected answer to account for variations in rounding during the solving process.)

Answer

Answer:

$60.30$

Explanation:

Step1: Calculate the mean

$\bar{x}=\frac{216 + 213+388+141+298+172+376+344+325+265}{10}=\frac{2738}{10}=273.8$

Step2: Calculate the absolute - deviations

$|216 - 273.8|=57.8$, $|213 - 273.8| = 60.8$, $|388 - 273.8|=114.2$, $|141 - 273.8| = 132.8$, $|298 - 273.8|=24.2$, $|172 - 273.8| = 101.8$, $|376 - 273.8|=102.2$, $|344 - 273.8| = 70.2$, $|325 - 273.8|=51.2$, $|265 - 273.8| = 8.8$

Step3: Calculate the mean of the absolute - deviations

$MAD=\frac{57.8+60.8 + 114.2+132.8+24.2+101.8+102.2+70.2+51.2+8.8}{10}=\frac{603}{10}=60.30$