Question

The Australian Automobile Association wants to estimate the amount of money spent annually by all its members for transportation costs.

A sample of 25 members reported the following dollar amounts for transportation costs last year:

734	769	687	689	759	752	739	694	736	700	768	693	713
732	712	700	707	730	711	700	703	710	682	753	706

(Round your answers to 2 decimal places.)

Find a) the point estimate for the population mean, b) the point estimate for the population median, and c) the point estimate for the population mode.

Answer 1

b) Since we know that

Median for a list of even number of data point is the mean of 2 middle most values if we sort the list in increasing order while for a list of odd number it is the middle most value if the list is sorted in increasing order.

Since our list have odd number of data points, this implies that

Median = 711.0

c) Mode is the number which appears most often in a set of numbers.

Mode = 700.0