Question

6. Following are the prices of 12 tickets listed on the Ticket Racket ticket broker site for

a Bruce Springsteen concert. $75, 120, 120, 145, 150, 150, 150, 175, 175, 200, 225,
275. Round your answers to the nearest hundredth.

Answer 1

a. $163.33

b. $150.00

c. $150.00

d. $200.00

Explanation:

a. Mean ticket price = sum of all the given set of prices ÷ by the number of prices in the given set of data

Mean ticket price =
`(75 + 120 + 120 + 145 + 150 + 150 + 150 + 175 + 175 + 200 + 225 + 275)/(12)`

Mean ticket price =
`(1960)/(12) = 163.33` (nearest hundredth)

Mean ticket price = $163.33

b. Median ticket price = the average between the 6th and 7th data in the data set.

75, 120, 120, 145, 150, (150, 150,) 175, 175, 200, 225, 275

Median ticket price = (150 + 150) ÷ 2 = $150.00

c. The mode ticket price is the price that appears most. $150 appears most, therefore, mode ticket price = $150.00

d. Range = max ticket price - min ticket price

Range = 275 - 75 = $200.00