MAT201Basic Statistics
posted by Pat
A dealership sold 15 cars last month. The purchase price of the cars, rounded to the nearest thousand, is represented in the table
Purchase Price/# of cars sold
$15,000 3
$20,000 4
$23,000 5
$25,000 2
$45,000 1
A.Find the mean and median
B. Which measures best represents the data? Use the results to support your answer.
C. What is the outlier and how does it affect the data?

Goku
Mean = (15000x3+20000x4...)/(3+4+5+2+1)
= 22.33333
Median = 23000
Outlier would depend on what how you define it, but it would probably be 45000 and it'd affect the mean and standard deviation of the plot.
Respond to this Question
Similar Questions

Microeconomics
Am I calculating the Marginal Revenue when you get the quantity for the price of $6,000.00? 
Math
The prices of 7 race cars are 126,000 140,000 140,000 180,000 400,000 400,000 819,000 The mean is $315,000? 
Microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum … 
college/microeconomics
The following table indicates the prices various buyers are willing to pay for a Miata sports car: Buyer A Maximum price $50,000 Buyer B Maximum price $40,000 Buyer C Maximum price $30,000 Buyer D Maximum price $20,000 Buyer E Maximum … 
Research and Statistics
2. The results of a recent survey indicate that the average new car costs $23,000, with a standard deviation of $3,500. The price of cars is normally distributed. a. What is a Z score for a car with a price of $ 33,000? 
statistics
2. The results of a recent survey indicate that the average new car costs $23,000, with a standard deviation of $3,500. The price of cars is normally distributed. a. What is a Z score for a car with a price of $ 33,000? 
MAT201 Basic Statistics
A dealership sold 15 cars last month. The purchase price of the cars, rounded to the nearest thousand, is represented in the table Purchase Price/# of cars sold $15,000 
math
The equation below can be used to model the approximate total revenue based on the number of cars sold at a local dealership. Revenue = 1,000 + 6,000p Which of the following is true? 
Math
5. Sales. An auto dealerâ€™s sales numbers are shown in the table below. Find for each month the mean, median, and mode prices of the cars she sold. Round your answers to the nearest dollar. Price May June July $20,000 22 25 24 $15,000 … 
MATH
5. Sales. An auto dealerâ€™s sales numbers are shown in the table below. Find for each month the mean, median, and mode prices of the cars she sold. Round your answers to the nearest dollar. Price May June July $20,000 22 25 24 $15,000 …