Question

What are the mean values of people who would purchase the red box and the blue box, respectively? Use the spreadsheet’s Average function to calculate the mean.

a) Red box mean
b) Blue box mean
c) Difference between red and blue box means
d) None of the above

Answer 1

To determine the mean values of people purchasing red and blue boxes, specific data is required. The calculation involves adding up all values and dividing by the number of entries. The mean for the provided house value data is 61.33 thousand dollars.

Step-by-step explanation:

To calculate the mean value of people who would purchase the red box and the blue box, you would use the Average function in a spreadsheet program. However, in the given context, there are no specific values to average for the red and blue boxes. Instead, we have a list of house values in thousands of dollars: 45, 47, 47.5, 51, 53.5, 125. For these values, the mean would be calculated by adding all the values and dividing by the number of data points. Therefore, the main answer to calculate the mean for the house values data is (45 + 47 + 47.5 + 51 + 53.5 + 125) / 6, which equals 368 / 6, resulting in a mean of 61.33 thousand dollars.The question regarding red and blue boxes might refer to a different set of data, possibly from an exercise in a textbook or a classroom example, which should be detailed for accurate mean values calculation.Conclusion The mean value for the provided house value data is 61.33 thousand dollars. For calculating mean values for red or blue boxes, specific data needs to be provided, and the same mean calculation method would apply.