Questions: Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision? 235, 190, 175, 155, 150, 150, 135, 135, 135, 135 results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode Based on the nature of the amounts, what can be inferred about their precision? A. The values all end in 0 or 5, so they appear to be rounded estimates B. Since celebrity information is public, these values can be assumed to be unrounded C. The values are all whole numbers, so they appear to be accurate to the nearest whole number. D. Since no information is given, nothing can be said about the precision of the given values

Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision? 235, 190, 175, 155, 150, 150, 135, 135, 135, 135 results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode Based on the nature of the amounts, what can be inferred about their precision? A. The values all end in 0 or 5, so they appear to be rounded estimates B. Since celebrity information is public, these values can be assumed to be unrounded C. The values are all whole numbers, so they appear to be accurate to the nearest whole number. D. Since no information is given, nothing can be said about the precision of the given values
Transcript text: Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions Listed below are the highest amounts of net worth (in millions of dollars) of all celebrities. What do the results tell us about the population of all celebrities? Based on the nature of the amounts, what can be inferred about their precision? $\begin{array}{lllllllllll}235 & 190 & 175 & 155 & 150 & 150 & 135 & 135 & 135 & 135 & \square\end{array}$ results. However, the result from part (c) shows that the most common celebrity net worth is equal to the mode Based on the nature of the amounts, what can be inferred about their precision? A. The values all end in 0 or 5, so they appear to be rounded estimates B. Since celebrity information is public, these values can be assumed to be unrounded C. The values are all whole numbers, so they appear to be accurate to the nearest whole number. D. Since no information is given, nothing can be said about the precision of the given values
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Solution

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Solution Steps

Step 1: Calculate the mean

The mean is the sum of all the values divided by the number of values. Mean \(= \frac{235 + 190 + 175 + 155 + 150 + 150 + 135 + 135 + 135 + 135}{10}\) Mean \(= \frac{1595}{10}\) Mean \(= 159.5\)

Step 2: Calculate the median

The median is the middle value when the data is arranged in order. Since we have 10 values (an even number), the median is the average of the two middle values. The data is already ordered, so the median is the average of the 5th and 6th values: Median \(= \frac{150 + 150}{2} = \frac{300}{2} = 150\)

Step 3: Calculate the mode

The mode is the value that occurs most frequently. In this case, 135 occurs four times, which is more than any other value. Mode \(= 135\)

Final Answer

(a) Mean = \(\boxed{159.5}\) (b) Median = \(\boxed{150}\) (c) Mode = \(\boxed{135}\) (e) The values all end in 0 or 5, so they appear to be rounded estimates. \(\boxed{A}\)

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