Question

In: Economics

Imagine that we are only given the following frequencydistribution: class f 46-50 3 51-55 6...

Imagine that we are only given the following frequency distribution: class f 46-50 3 51-55 6 56-60 3 What is the estimated arithmetic mean?

Solutions

Expert Solution

46-50, midpoint is = 48

51-55, midpoint is = 53

56-60,  midpoint is = 58

Multiply each midpoint by the frequency =

48*3 = 144

53*6 = 318

58*3 = 174

Add the results from Step above and divide the sum by 12

= 636/12 = 53


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