Question

Find the mean absolute deviation to the nearest cent. Explain what this value represents.

Answer 1

MAD

To find the MAD of the data, you must first find the mean. To do this, simply add all the numbers up and divide by the number of data values.

950+620+545+810+775+1120+905+775=812.5

So the mean is 812.5 ($812.5).

The final step to finding the MAD is to difference between each data value and the mean.

|950-812.5| + |620-812.5| + |545-812.5| + |810-812.5| + |775-812.5| + |1120-812.5| + |905-812.5| + |775-812.5|

137.5 + 192.5 + 265.5 + 2.5 + 37.5 + 307.5 + 92.5 + 37.5/8

1073/8=9.625

So, 134.125 is the answer.

BUT... the question said round to the nearest cents. So, it's 13413 cents.

Answer 2

134.38

This value represents 134.38

Explanation:

Find the mean.

950+620+545+810+775+1120+905+775=6500

6500/8=812.5

Subtract the mean of numbers.

950-812.5=137.5

812.5-620=192.5

812.5-545=267.5

812.5-810=2.5

812.5-775=37.5

1120-812.5=307.5

905-812.5=92.5

812.5-775=37.5

Find the mean.

137.5+192.5+267.5+2.5+37.5+307.5+92.5+37.5=1075

1075/8≈134.38

This means that 134.38 is $134.38