C O ezto.mheducation.com/hm.tpx connect BUSINESS STATISTICS Homework Chap 3 Ques

Question

C O ezto.mheducation.com/hm.tpx connect BUSINESS STATISTICS Homework Chap 3 Question 19 (of 20) 19. 1000 points 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 a. Compute the mean and median number of apples in a bag. (Round your answers to 2 decimal places.) Mean Median b. sEX-x)true or false? (Click to select) References eBook & Resources Learning Objective: 03-01 C mode Worksheet Difficulty: 2 Intermediate

Explanation / Answer

Answer to the question is as follows:

1.

a. The mean is sum of all numbers divided by no. of obs = (23+19+26+17+21+24+22)/7 = 21.71

b. Median is the 50 percentile or the 4th obs in this ascended sorted list: 22

2.
True. Essentially the mean mutliplied by the numbers of obs ( 2nd part in the equation) is equal to the sum of numbers. Hence, it will always sum upto 0

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