please help with the mean

Understand Competitive Market Environments

Question 1:

Find the mean, median and mode of the following:

Presto Printing Company sales for the month of February.

(NOTE: The Company is closed on Sundays.)

February 2: $4,794

February 3: $5,954

February 4: $3,309

February 5: $3,106

February 6: $7,124

February 7: $2,349

February 9: $3,123

February 10: $4,128

February 11: $3,198

February 12: $2,198

February 13: $7,287

February 14: $1,323

February 16: $4,598

February 17: $3,987

February 18: $3,099

February 19: $3,098

February 20: $5,950

February 21: $3,209

February 23: $6,531

February 24: $3,098

February 25: $4,598

February 26: $4,873

February 27: $9,976

February 28: $5,878

Mean: is the average between a numbers of data sets. You would add the total numbers up and divide by the number of data sets which equals 24. The total number of data sets = 106,788 / 24 = 4,450. This would be the mean/average

Median: is the data sets assorted by ascending order. Once this is given the median ends up being the center of the data sets. The median would be 4,057.5

Mode: is the value that occurs most often in a data set. Looking at the data set that appears most often is 4,598 and 3098

Explain which measure of central tendency is "best" in this scenario and why.

Question 2:

A.Set up a frequency distribution table and calculate the relative frequency for the following quiz scores that Matt achieved in his Algebra course.Explain the difference between frequencies and relative frequencies.

Matt's Quiz Scores: 87, 88, 92, 79, 100, 76, 61, 60, 79, 99, 100, 69, 98, 87, 92, 79, 81, 85, 100, and 100.

Use the following frequency intervals:

60 - 70

70 - 80

80 - 90

90 - 100

B.Calculate the variance and standard deviation for Matt's quiz scores.

Suggestion: set the problem up in steps within a table like the textbook illustrates.

C.Explain standard deviation and how it relates to the data.

Standard deviation is a measure of spread. An example of this would be the standard deviation of a bullet casing has a low standard deviation. If the bullet casing had a large standard deviation there is a high probability of a bullet casing failure. Whether that is discharge or size restricted issues.

The Standard deviation between Matts Quiz score is 13.83. This means that Matt has a large deviation between his grades. This means that Matt's scores are not consistent and Matt needs to work harder to reduce this deviation.

Question 3:

Ben's Average Sales:

Monday $5,099

Tuesday $6,900

Wednesday $0

Thursday $10,500

Friday $9,407

Saturday $9,766

Sunday $0

Is it better for Ben to earn 7.5% based on his average daily sales or a flat $4,000 for the week? Explain the pros and cons of each pay plan.

Ben would be better off earning the flat four thousand per week because his sales at 7.5 percent would only equal 3,125.40 per week.