Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions. Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision? 275 200 185 165 155 155 135 135 135 135 a. Find the mean. The mean is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) b. Find the median. The median is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) c. Find the mode. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. The mode(s) is(are) $nothing million. (Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.) B. There is no mode. d. Find the midrange. The midrange is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) e. What do the results tell us about the population of all celebrities? A. Apart from the fact that all other celebrities have amounts of net worth lower than those given, nothing meaningful can be known about the population. B. The results tell us that the most common celebrity net worth is the mode, but all other celebrities are expected to have net worths approximately equal to the mean, median, or midrange. C. The results tell us that all celebrities are expected to have amounts of net worth approximately equal to one of the measures of center found in parts (a) through (d). D. Apart from the fact that all other celebrities have amounts of net worth lower than those given, the results in parts (a), (b), and (d) do not given meaningful results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode.

Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions. Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision? 275 200 185 165 155 155 135 135 135 135 a. Find the mean. The mean is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) b. Find the median. The median is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) c. Find the mode. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. The mode(s) is(are) $nothing million. (Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.) B. There is no mode. d. Find the midrange. The midrange is $nothing million. (Type an integer or a decimal rounded to one decimal place as needed.) e. What do the results tell us about the population of all celebrities? A. Apart from the fact that all other celebrities have amounts of net worth lower than those given, nothing meaningful can be known about the population. B. The results tell us that the most common celebrity net worth is the mode, but all other celebrities are expected to have net worths approximately equal to the mean, median, or midrange. C. The results tell us that all celebrities are expected to have amounts of net worth approximately equal to one of the measures of center found in parts (a) through (d). D. Apart from the fact that all other celebrities have amounts of net worth lower than those given, the results in parts (a), (b), and (d) do not given meaningful results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode.

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Description: Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions. Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about th

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 13PPS

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Question

Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions.

Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision?

275

200

185

165

155

135

a. Find the mean.

The mean is

$nothing

million.

(Type an integer or a decimal rounded to one decimal place as needed.)

b. Find the median.

The median is

$nothing

million.

(Type an integer or a decimal rounded to one decimal place as needed.)

c. Find the mode.

Select the correct choice below and, if necessary, fill in the answer box to complete your choice.

The mode(s) is(are)

$nothing

million.

(Type an integer or a decimal. Do not round. Use a comma to separate answers as needed.)

There is no mode.

d. Find the midrange.

The midrange is

$nothing

million.

(Type an integer or a decimal rounded to one decimal place as needed.)

e. What do the results tell us about the population of all celebrities?

Apart from the fact that all other celebrities have amounts of net worth lower than those given, nothing meaningful can be known about the population.

The results tell us that the most common celebrity net worth is the mode, but all other celebrities are expected to have net worths approximately equal to the mean, median, or midrange.

The results tell us that all celebrities are expected to have amounts of net worth approximately equal to one of the measures of center found in parts (a) through (d).

Apart from the fact that all other celebrities have amounts of net worth lower than those given, the results in parts (a), (b), and (d) do not given meaningful results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode.

Based on the nature of the amounts, what can be inferred about their precision?

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

Expert Solution

Step 1

(a)

The mean of the data is given by

$Mean = \frac{Sum of all observations}{Total number of observations} = \frac{275 + 200 + 185 + 165 + 155 + 155 + 135 + 135 + 135 + 135}{10} = 167.5$

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