Mr. Gomez is researching the price of a new car. He narrowed his search down to five car dealers. The price of the car at each dealer is listed in the chart shown. CAR PRICES Dealer Price (dollars) 1 23,000 2 23,750 3 24,350 4 22,650 5 23,900 Which measure provides information on how much the prices vary?

Question

the range

the median

the mean

the mode

is it mode or what is it?

Answer 1

The measure that provides information on how much the prices vary is the range. The range is calculated by subtracting the lowest value from the highest value in a set of data. In this case, the lowest price is $22,650 and the highest price is $24,350, so the range would be $24,350 - $22,650 = $1,700.