Answer:
a. What is the mean price? Round your answer to the nearest cent. $679.63
b. What is the median price? $689.50
c. What is the mode price? $699
Step-by-step explanation:
The mean price, rounded to the nearest cent is $679.63, the median price is $689.5 and the mode price is $699.
The mean is the ratio of the sum of all numbers and total numbers in the list. The median is the middle value in a list ordered in ascending order. The mode is the most frequently occurring value on the list.
In our question, given data:
$699, $599, $699, $680, $590, $720, $650, $800
Mean is found by dividing by sum all the prices and then divided by total terms.
Sum all prices = ($699 + $599 + $699 + $680 + $590 + $720 + $650 + $800) = $5437
Mean = [tex]\frac{5437}{8}[/tex] = $679.625
The round of mean value to the nearest cent is $679.63.
To find median, arrange the data list in ascending order and then find the middle value. Since in our data list, there are 8 terms (even). Therefore take average of the two middle values to find median.
Ascending order ⇒ 590, 599, 650, 680, 699, 699, 720, 800
Midian = [tex]\frac{680 + 699}{2}[/tex] = $689.5
Mode is the most frequently occurring value in the data list, in our data list, 699 comes twice.
∴ Mode = $699
Hence Mean = $679.63, Midian = $689.5, Mode = $699.
To learn more about Mean, Median and Mode, refer to the link:
https://brainly.com/question/15323584
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