Question

An auto dealer's sales numbers are shown in the table below. Find for each month the mean, median, and mode prices of the cars she sold. Round your answers to the nearest dollar.

		Number sold
Price	May	June	July
$25,000	22	25	24
$15,000	49	24	24
$13,500	25	49	49

June

mean	$
median	$
mode	$

July

mean	$
median	$
mode	$

Answer 1

Answer to the above questions :

June

Price	Number sold
$ 13500	49
$ 15000	24
$ 25000	25

Total sales = 98

Mean = (13500 * 49 + 15000*24 + 25000* 25)/ 98 = 1646500/98

Mean = $16801

Median :

since number of sales (98) is even, so median is the average of the values at the (n/2)th = 98/2 th = 49 th and ( (n/2) +1)th = 50 th positions.

The price at 49 th position = $13500

The price at 50 th position = $15000

Median = (13500 + 15000)/2 = $14250

Mode : The mode of a set of observations is the value that occurs most frequently in the set.

Mode = $13500 (highest frequency of 49)

July :

Price	Number of sales
$13500	49
$15000	24
$25000	24

Total sales = 97

Mean = (13500 * 49 + 15000*24 + 25000* 24)/ 98 = 1621500/97

Mean = $16716

Median :

since number of sales is odd(97). Hence the median is the value at the ( (n+1)/2) th = 98/2 th = 49 th position.

median = 49 th position price = $ 13500

Mode = $13500 ( highest frequency of 49)

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