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23.| Leisure: Maui Vacation How expensive is Maui? If you want a vacationrental condominium (up to four people), visit a Maui tourism web site. TheMaui News gave the following costs in dollars per day for a random sampleof condominiums located throughout the island of Maui.Harmonic mean895068603755550071 40350605025045451252356560130 SECTION 3.1Measures of Central Tendency: Mode, Median, and Mean103toham291ledne(a) Compute the mean, median, and mode for the data.(b) Compute a 5% trimmed mean for the data, and compare it with the meancomputed in part (a). Does the trimmed mean more accurately reflect thegeneral level of the daily rental costs?(c) Interpretation If you were a travel agent and a client asked about thedaily cost of renting a condominium on Maui, what average would youuse? Explain. Is there any other information about the costs that you thinkmight be useful, such as the spread of the costs?YO

Question

 

 

23.| Leisure: Maui Vacation How expensive is Maui? If you want a vacation
rental condominium (up to four people), visit a Maui tourism web site. The
Maui News gave the following costs in dollars per day for a random sample
of condominiums located throughout the island of Maui.
Harmonic mean
89
50
68
60
375
55
500
71 40
350
60
50
250
45
45
125
235
65
60
130
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23.| Leisure: Maui Vacation How expensive is Maui? If you want a vacation rental condominium (up to four people), visit a Maui tourism web site. The Maui News gave the following costs in dollars per day for a random sample of condominiums located throughout the island of Maui. Harmonic mean 89 50 68 60 375 55 500 71 40 350 60 50 250 45 45 125 235 65 60 130

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SECTION 3.1
Measures of Central Tendency: Mode, Median, and Mean
103
toham
291
ledne
(a) Compute the mean, median, and mode for the data.
(b) Compute a 5% trimmed mean for the data, and compare it with the mean
computed in part (a). Does the trimmed mean more accurately reflect the
general level of the daily rental costs?
(c) Interpretation If you were a travel agent and a client asked about the
daily cost of renting a condominium on Maui, what average would you
use? Explain. Is there any other information about the costs that you think
might be useful, such as the spread of the costs?
YO
help_outline

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SECTION 3.1 Measures of Central Tendency: Mode, Median, and Mean 103 toham 291 ledne (a) Compute the mean, median, and mode for the data. (b) Compute a 5% trimmed mean for the data, and compare it with the mean computed in part (a). Does the trimmed mean more accurately reflect the general level of the daily rental costs? (c) Interpretation If you were a travel agent and a client asked about the daily cost of renting a condominium on Maui, what average would you use? Explain. Is there any other information about the costs that you think might be useful, such as the spread of the costs? YO

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check_circleAnswer
Step 1

a.

Mean:

The formula for finding mean is shown below:

Mean-Sum of all data values
Number of data values
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Mean-Sum of all data values Number of data values

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Step 2

The mean is obtained as follows:

Mean-Sum of all data values
Number of data values
2,723
20
=136.15
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Mean-Sum of all data values Number of data values 2,723 20 =136.15

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Step 3

Thus the mean is $136.15.

Median:

The formula for me...

th
1
position
ifn is odd
2
Median
th
th
+1
+
positi on ifn is even
2
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th 1 position ifn is odd 2 Median th th +1 + positi on ifn is even 2

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