the monthly rents for five apartments advertised in a newspaper were $650, $650, $740, $1650 and $820?
mean:902 mode:650 median:740
which one explains the monthly rent?
1. median
2.mode
3.mean
Median is the best measure.
The correct option that explains the monthly rent is the mean.
To find the mean, you need to sum up all the monthly rent values and divide the sum by the total number of values. In this case, you have five apartment rents: $650, $650, $740, $1650, and $820.
Mean = (650 + 650 + 740 + 1650 + 820) / 5
Mean = 3510 / 5
Mean = 702
So, the mean monthly rent for these five apartments is $702.