60.

Owens Orchards sells apples in a large bag by weight. A sample of seven bags contained the following numbers of apples: 23, 19, 26, 17, 21, 24, 22.

1. Compute the meannumber and mediannumber of apples in a bag.

2. Verify that S (X – X) = 0.

62.

The Citizens Banking Company is studying the number of times the ATM located in a Loblaws Supermarket at the foot of Market Street is used per day. Following are the numbers of times the machine was used over each of the last 30 days. Determine the mean number of times the machine was used per day.

83 64 84 76 84 54 75 59 70 61

63 80 84 73 68 52 65 90 52 77

95 36 78 61 59 84 95 47 87 60

68

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

1.44 1.42 1.35 1.39 1.49 1.49 1.41 1.46

1.41 1.49 1.45 1.48 1.39 1.46 1.44

1. What is the arithmetic mean selling price?

2. What is the median selling price?

3. What is the modal selling price?

70

A recent article suggested that if you earn $25,000 a year today and the inflation rate continues at 3 percent per year, you’ll need to make $33,598 in 10 years to have the same buying power. You would need to make $44,771 if the inflation rate jumped to 6 percent. Confirm that these statements are accurate by finding the geometric mean rate of increase.

72

The weights (in pounds) of a sample of five boxes being sent by UPS are: 12, 6, 7, 3, and 10.

1. Compute the range.

2. Compute the mean deviation.

3. Compute the standard deviation.

Measures of central tendency and dispersion. The solution contains calculation of Mean, Median, Mode, Mean Deviation and Standard Deviation, including formula for the computation.