Question

How expensive is Maui? A newspaper gave the following costs in dollars per day for a random sample of condominiums located throughout the island of Maui. 86 50 66 60 370 55 500 71 41 350 60 50 250 45 45 125 235 65 60 110

(a) Compute the mean, median, and mode for the data. (Round your answers to two decimal places

mean

median

mode

2. Compute a 5% trimmed mean for the data, and compare it with the mean computed in part (a). (Round your answer to two decimal places.)

Answer 1

Solution:- Given that samples  86,50,66,60,370,55,500,71,41,350,60,50,250,45,45,125,235,65,60,110

(a) Mean = sum of terms/number of terms

= 2694/20

= 134.70

median = 65.50

Explanation

The median is the middle number in a sorted list of numbers. So, to find the median, we need to place the numbers in value order and find the middle number.

Ordering the data from least to greatest, we get:

41   45   45   50   50   55   60   60   60   65   66   71   86   110   125   235   250   350   370   500   

As you can see, we do not have just one middle number but we have a pair of middle numbers, so the median is the average of these two numbers:

Median (65 + 66)/2 = 65.5

Mode = 60

Explanation

The mode of a set of data is the value in the set that occurs most often.

Ordering the data from least to greatest, we get:

41   45   45   50   50   55   60   60   60   65   66   71   86   110   125   235   250   350   370   500   

We see that the mode is 60 .

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2. 5% trimmed mean = 119.61

=> trimmed mean < Mean