AAA Gas Price Statistics: Arithmetic Mean, median, and modal

The American Automobile Association checks the prices of gasoline before many holiday weekends. … during the May 2003 Memorial Day weekend in the Detroit, Michigan, area. …. before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during Labor Day weekend of 2007 in the detroit, michigan area.

3.44 3.42 3.35 3.39 3.49 3.49 3.41 3.46
3.41 3.49 3.45 3.48 3.39 3.46 3.44

What is the arithmetic meanselling price?
What is the medianselling price?
What is the modal selling price?

Please download the attached file.

Solution:
Following is the method to calculate the Arithmatic Mean.

3.438

To find the Median, we need to arrange the values in increasing order.

Increasing order is :
3.35, 3.39, 3.39, 3.41, 3.41, 3.42, 3.44, 3.44, 3.45, 3.46, 3.46, 3.48, 3.49, 3.49, 3.49

After arranging in increasing order, the middle number (leaving seven numbers to the right and seven numbers to the left) is 3.44, …

AAA Gas Price Statistics: Arithmetic Mean, median, and modal are examined.