Question

3. The two data sets show random samples of the costs, in dollars, of cars purchased at two dealerships yesterday.
Dealership 1: 25,000, 42,000, 37,000, 45,000 120,000
Dealership 2: 28,000, 95,000, 18,000, 19,000, 33,000
(a) What are the mean and the median of each data set?
(b) Which measure of center will provide the most accurate estimate of the costs of cars purchased at the two dealerships?

Answer 1

(a)   Mean of Dealership 1: 53800

Median of Dealership 1: 42000

Mean of Dealership 2: 38600

Median of Dealership 2: 28000

 

(b)   the median because there are outliers

Answer 2

The mean of the dealership1 is 53,000

The mean of the dealership 2 is 38,600

The median of the dealership 1 is 42,000

The median of the dealership 2 is 28,000

What is mean and median of a data set?

'The arithmetic mean, also known as arithmetic average, is a measure of central tendency of a finite set of numbers.

The median is the value separating the higher half from the lower half of a data sample.'

Dealer ship 1 = 25,000, 42,000, 37,000, 45,000, 120,000

Mean = $\frac{25,000+42,000+ 37,000+45,000+ 120,000}{5}$

         = 53,800

Dealership 2 = $\frac{28,000+95,000+18,000+19,000+33,000}{5}$

                      = 38,600

For Median, we need to have to arrange the given dataset in ascending order.

For data-set 1,

⇒ 25,000, 37,000, 42,000, 45,000, 120,000

Median is the middle-most value.

⇒ 42,000

For data-set 2,

⇒ 18,000, 19,000, 28,000, 33,000, 95,000

Now, median is the middle-most value.

⇒ 28,000

Now, median will provide more accurate middle-most value because it is not affected by the values of the outliers.

Hence, we can conclude, the mean and the median of dealer-ship 1 is 53,000 and 42,000 and that of dealership 2 is 38,600 and 28,000 respectively.

Learn more about mean and median here: https://brainly.com/question/22806323

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