In: Statistics and Probability
find the mean, median, mode, and midrange. Then decide which you think is the most meaningful measure of average for that data set.
The website Best Value Schools rated nine schools as the best values in Arizona for 2015. The net price for each school, defined as the average amount of money a student could expect to pay each year after taking into account tuition, room and board, living expenses, scholarship awards, and financial aid packages, is
$13,465 |
$12,946 |
$30,956 |
$12,191 |
$9,505 |
$12,558 |
$12,125 |
$29,995 |
$15,681 |
|
The most meaningful measure of average is
mean. Because In that data they have not any
outliers. Mode is meaningful when there categorical data points.
Median is meaningful when in data have outliers Mean is meaningful
when data not have outliers