Explanation:
The mean value is the most representative data value in this set.
The mean is the sum of the prices divided by the number of data values: Mean = ($8 + $17 + $11 + $8 + $12 + $14) / 6 = $11.50
The median is the middle data value when the data values are sorted in increasing order: Median = ($8 + $11 + $11 + $12 + $14 + $17) / 6 = $11
The mode is the data value that occurs most frequently: Mode = $11 (occurs twice)
The best data value to represent the prices is the mean, which is the average of all the data values. It gives a good representation of the center of the data and how much the prices vary. The median gives a similar representation, but it can be biased by the extreme values in the data. The mode gives a rough idea of the most frequent price, but it does not give an average of all the prices.