Answer:
Mean = $6,397.2
Median = $6,372
Midrange = $6,662
Step-by-step explanation:
We are given the following data:
$7,431, $4,859, $8,961, $6,372, $4,363
Formula:
[tex]Mean = \displaystyle\frac{\text{Sum of all observations}}{\text{Total number of observation}}[/tex]
[tex]Median:\\\text{If n is odd, then}\\\\Median = \displaystyle\frac{n+1}{2}th ~term \\\\\text{If n is even, then}\\\\Median = \displaystyle\frac{\frac{n}{2}th~term + (\frac{n}{2}+1)th~term}{2}[/tex]
Mode is the most frequent observation in the dataset.
[tex]Midrange = \displaystyle\frac{\text{Highest term} + \text{Lowest term}}{2}[/tex]
Mean = [tex]\frac{31986}{5} = 6397.2[/tex]
Median:
Data in increasing order: 4363, 4859, 6372, 7431, 8961
Median = [tex]3^{rd}\text{ term}[/tex] = 6372
Mode: All values appeared once.
Midrange = [tex]\frac{8961+4363}{2} = 6662[/tex]
