The monthly rents for the apartments in a building are listed below. $425, $550, $550, $550, $650, $650, $650, $650, $800, $900

Part A: Find the mean$637.50 median=$650 mode=$650 range=$475 and standard deviation of the rents???

The answers you have are correct.

Subtract each of the scores from the mean and square each difference. Find the sum of these squares. Divide that by the number of scores to get variance.

Standard deviation = square root of variance

I'll let you do the calculations.

To find the mean, median, mode, range, and standard deviation of the rents, we can follow these steps:

Step 1: Calculate the Mean
1. Add up all the rents: $425 + $550 + $550 + $550 + $650 + $650 + $650 + $650 + $800 + $900 = $6,475.
2. Divide the total sum by the number of rents (which is 10): $6,475 / 10 = $647.50.

So the mean (average) rent is $647.50.

Step 2: Find the Median
1. Arrange the rents in ascending order: $425, $550, $550, $550, $650, $650, $650, $650, $800, $900.
2. The median is the middle value, which in this case is the 5th value: $650.

So the median rent is $650.

Step 3: Determine the Mode
The mode is the value that appears most frequently. In this case, $650 appears four times, which is more than any other value, so $650 is the mode.

Step 4: Calculate the Range
1. Find the highest and lowest rents: Lowest rent = $425, Highest rent = $900.
2. Subtract the lowest rent from the highest rent: Range = $900 - $425 = $475.

So the range of the rents is $475.

Step 5: Determine the Standard Deviation
1. Subtract the mean from each rent and square the result.
2. Calculate the average of the squared differences.
3. Take the square root of the average to find the standard deviation.

Steps:
1. Subtract the mean from each rent and square the result:
($425 - $647.50)^2 = $52,006.25
($550 - $647.50)^2 = $9,506.25
($550 - $647.50)^2 = $9,506.25
($550 - $647.50)^2 = $9,506.25
($650 - $647.50)^2 = $6.25
($650 - $647.50)^2 = $6.25
($650 - $647.50)^2 = $6.25
($650 - $647.50)^2 = $6.25
($800 - $647.50)^2 = $24,025.00
($900 - $647.50)^2 = $64,006.25

2. Calculate the average of the squared differences:
($52,006.25 + $9,506.25 + $9,506.25 + $9,506.25 + $6.25 + $6.25 + $6.25 + $6.25 + $24,025.00 + $64,006.25) / 10 = $20,692.50

3. Take the square root of the average to find the standard deviation:
Square root of $20,692.50 ≈ $143.85

So the standard deviation of the rents is approximately $143.85.