The average price for 14 sellers.

Question

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Answer 1

Question

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.

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

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Answer 2

Question

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.

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

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.

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

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.

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

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Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

Answer 6

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

Answer 7

Chapter 2.2, Problem 2.12E

a.

To determine

To find: The average price for 14 sellers.

Answer 8

a.

Expert Solution

Answer to Problem 2.12E

The average price for 14 sellers is 322.4107 .

Answer 9

a.

Expert Solution

Answer 10

a.

Expert Solution

Answer 11

Expert Solution

Answer 12

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The data is shown below.

Seller	Price($)
Buy.com	216.49
Sears	222.84
Sam's Club	180.17
Sales	279.90
Place Toys	280.98
Simbaoo7	289.97
Jandk42S	433.00
Dell	184.86
Kmart	222.84
EagleDirectUSA	231.04
Wii4family	262.95
Quickship	299.48
Buy-it-now	384.99
SW Evolution	1024.24
Total	4513.75

The mean is,

x¯=∑ x 1 n=4513.7514=322.4107

Thus, the average price for 14 sellers is 322.4107 .

Answer 13

b.

To determine

To find: The median of the data.

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

Answer 14

b.

To determine

To find: The median of the data.

Answer 15

b.

Expert Solution

Answer to Problem 2.12E

The median of the data is 271.425 .

Answer 16

b.

Expert Solution

Answer 17

b.

Expert Solution

Answer 18

Expert Solution

Answer 19

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Calculation:

The median is,

Median=262.95+279.92=271.425

Thus, the median of the data is 271.425 .

Answer 20

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24

Since, the average can be misleading and the average provide the collected data of the all values while the mode provide the frequency of the value.

Thus, the customer is not interested in average price and the variable is mode.

Answer 21

c.

To determine

To find:Whether the customer is interested in average price if not the variable in which customer is interested.

Answer 22

c.

Expert Solution

Answer to Problem 2.12E

The customer is not interested in average price and the variable is mode.

Answer 23

c.

Expert Solution

Answer 24

c.

Expert Solution

Answer 25

Expert Solution

Answer 26

Explanation of Solution

Given information: The data is shown below.

Seller	Price($)	Seller	Price($)
Buy.com	216.49	Dell	184.86
Sears	222.84	Kmart	222.84
Sam's Club	180.17	EagleDirectUSA	231.04
Sales	279.90	Wii4family	262.95
Place Toys	280.98	Quickship	299.48
Simbaoo7	289.97	Buy-it-now	384.99
Jandk42S	433.00	SW Evolution	1024.24