section 4.5 homework\nscore: 1/9 answered: 1/9\nquestion 2\nsuppose that in a small town of 30 people, one…
section 4.5 homework\nscore: 1/9 answered: 1/9\nquestion 2\nsuppose that in a small town of 30 people, one person earns $200000 per year and the other 29 each earn $30000. compute the mean and the median (round the answer to 2 decimal places)\nmean:\nmedian:\nquestion help: video written example message instructor post to forum\nsubmit question
Answer
Explanation:
Step1: Calculate the sum for mean
The sum of all earnings is (200000 + 29\times30000=200000 + 870000 = 1070000).
Step2: Calculate the mean
The mean (\bar{x}=\frac{\text{Sum of all values}}{\text{Number of values}}). Here, the number of people (n = 30). So, (\bar{x}=\frac{1070000}{30}\approx35666.67).
Step3: Calculate the median
Arrange the data in ascending - order. Since there are (n = 30) (an even number of data - points), the median is the average of the (\frac{n}{2})th and ((\frac{n}{2}+1))th ordered values. When the data is arranged, the 15th and 16th values are both (30000) (because 29 of the values are (30000)). So, the median (M = 30000.00).
Answer:
Mean: (35666.67) Median: (30000.00)