An insurance company crashed four cars of the same model at 5 miles per hour. The costs of repair for each of the four crashes were $436, $403, $479, and $249 . Compute the mean, median, and mode cost of repair. Compute the mean cost of repair. Select the correct choice below and, if necessary, fill in the answer box to complete your choice. A. The mean cost of repair is $ nothing. (Round to the nearest cent as needed.) B. The mean does not exist.
Accepted Solution
A:
Answer:Data : $436, $403, $479, and $249 .[tex]Mean = \frac{\text{Sum of all observations }}{\text{total no. of observations}}[/tex][tex]Mean = \frac{436+403+479+249}{4}[/tex][tex]Mean = 391.75[/tex]No. of terms n = 4 (even)Median = [tex]\frac{\frac{n}{2}th +(\frac{n}{2} +1)th}{2}[/tex]Median = [tex]\frac{\frac{4}{2}th +(\frac{4}{2} +1)th}{2}[/tex]Median = [tex]\frac{2nd +(3)rd}{2}[/tex]Median = [tex]\frac{403+479}{2}[/tex]Median = [tex]441[/tex]Mode is the value repeating the more no. of times So, there is no mode.Hence Mean is 391.75 , Median is 441 and no mode.