Answered: hown here is a sample of six of the…

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

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.6: Summarizing Categorical Data

Problem 4AGP

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Shown here is a sample of six of the largest accounting firms in the United States and the number of partners associated with each firm as reported by the Public Accounting Report. Compute the mean and the range of the Number of Partners

## Firm Number of Partners

## 1 Deloitte & Touche 2693

## 2 Ernst & Young 2139

## 3 PricewaterhouseCoopers 2085

## 4 KPMG 1666

## 5 RSM McGladrey 742

## 6 Grant Thornton 311

Select one:

Mean is 1606, Range is 2382

Mean is 1406, Range is 2102

Mean is 1732, Range is 2282

Mean is 1497, Range is 1982

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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