Question

Luis is a professional musician.He needs to

buy an upgraded used guitar for his work.He
found the following prices for the same make
and model used guitar for his work:
$699.20,$700.30,$680.50,$700.30, and
$800.25.
EXPRESS THE FORMULA FOR THE MEAN
USING SIGMA NOTATION AND CALCULATE
THE MEAN, THE MEDIA AND THE MODE.

Answer 1

Explanation:

The following prices for the same make and model used guitar for his work are :

$699.20,$700.30,$680.50,$700.30, and $800.25.

Mean of ungrouped data = sum of observations/total no of observations

`\text{Mean}=(699.20+700.30+680.50+700.30+800.25)/(5)\\\\\text{Mean}=\$716.11`

For median, arrange the given data in ascending order.

$680.50, $699.20, $700.30, $700.30, $800.25

Median = middle value

Median = $700.30

The value that comes most often is called mode.

$700.30 comes two times. So, mode is $700.30

Hence, Mean = $716.11, median = $700.30 and mode = $700.30