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Problem 36 Medium Difficulty

Find the mean and median for the following.
Price per bushel of wheat

Answer

$\bar{X}=\$4.157,\text{ Median }=\$ 3.49$

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Video Transcript

this question shows is a table of prices over the several years for bushels of wheat. It asks us to find the mean and the median the price is that it gives in order. Are 2.62 2.78 3.56 3.40 3.40 3.42 4.26 Sturgeon of the line. 6.48 6.78 and 4.7. We knew that the mean our export is just the sum of all the exes divided by n where n is the number of data points that we have here. We know N is 10. And if we add up, all of our data and a calculator will get this. Some of the excess is we go to 41.57 So pretty quickly we can figure out that explore is 41.57 out of 10 or just 4.157 Next, we need to find the median. To do that. I want to put this list of numbers that we have in order. That is, I'm going to go from lowest to highest strolled down and rewrite it. First we have 2.62 then 2.78 men 3.4. Another 3.4 a 3.42 a 3.56 a 4.26 4.87 6.48 and a 6.78 Now, we know we haven't even number here. We get any cost. 10. So to find the median, we're gonna find, um, point the data in place five and place six and average them. So I counted out 1234 Here's five and six. So our median is going to be the average of these two. When we add these two together and divide by two, we get that are median is equal to 3.4 nine, and that's your final answer.