Question

Find the mean for the amounts: $17,483: $14,987. $13,521; $14,600, $18,580, $14,981The mean for the amounts is $u-(Round to the nearest whole number as needed.)

Answer 1

To find the mean we need to add all the amounts and then divide the result by the number of amounts we have. This is express as:

$\mu=\frac{\sum_{i=1}^nx_i}{n}$

In this case we have a total of six amounts, then n=6. The mean is:

$\begin{gathered} \mu=\frac{17483+14987+13521+14600+18580+14981}{6} \\ \mu=\frac{94151}{6} \\ \mu=15692 \end{gathered}$

Therefore, the mean is $15,692