Mean, median, and mode: Computations
The following list contains the average annual total returns (in percentage points) for 8 mutual funds. The mutual funds appear in an online brokerage firm’s “all-star” list.
23, 16, 9, -5, 40, 36, 16, 21
A – What is the meanof this dataset? If the answer is not an integer, round the answer to at least 1 decimal place.
B – What is the median of this data set? It the answer in not an integer, round the answer to at least 1 decimal place.
C – How many modes does this data set have and what are their values? Indicate the number of modes (zero mode, one mode, two modes), and indicate the value (s) of the mode (s) if applicable.
The solution provides step by step method for the calculation of mean, median and mode. Formula for the calculation and Interpretations of the results are also included.