Question: For the data in Exercise 15, find the mean income and the median income. Which do you think is a better measure of central tendency?

For the data in Exercise 15, find the mean income and the median income.
Which do you think is a better measure of central tendency? Why? Also, find the sample variance and standard deviation [Hint: To make this easier, first transform the data so that you will not have to work with such large numbers.]

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