Question

An article claimed that the typical price for a textbook is $84.95. The prices of six textbooks found in a bookstore were $76.95, $84.95, $108.95, $63.95, $75.95, and $84.95.

According to this data, what is wrong with the article's statement?


help please

Answer 1

It used the mode, when it should have used the mean.
The mode is the most common number, as seen in the list of prices, $84.95 is listed twice, therefore making it the most common number, the mode. They should have used the median to find the average price but adding up all the listed prices and dividing by how many prices were listed:
$76.95+$84.95+$108.95+$63.95+$75.95+$84.95 = $495.7
And then divide by 6 (because that’s how many prices were listed):
$495.7/6 = $82.6 <— that is the real mean