How expensive is Maui? A newspaper gave the following costs in dollars per day for a random sample of condominiums located throughout the island of Maui.87506660370555007142350605026045451252356560130 (a) Compute the mean, median, and mode for the data. (Round your answers to two decimal places.)mean $ median $ mode $ (b) Compute a 5% trimmed mean for the data, and compare it with the mean computed in part (a). (Round your answer to two decimal places.)$

Answered: Compute the mean, median, and mode for…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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How expensive is Maui? A newspaper gave the following costs in dollars per day for a random sample of condominiums located throughout the island of Maui.

87	50	66	60	370	55	500	71	42	350
60	50	260	45	45	125	235	65	60	130

(a) Compute the mean, median, and mode for the data. (Round your answers to two decimal places.)

mean	$
median	$
mode	$

(b) Compute a 5% trimmed mean for the data, and compare it with the mean computed in part (a). (Round your answer to two decimal places.)
$

Definition Definition Measure of central tendency that is the value that occurs most frequently in a data set. A data set may have more than one mode if multiple categories repeat an equal number of times. For example, in a data set with five item—3, 5, 5, 29, 473—the mode is 5 because it occurs twice and no other value occurs more than once. On a histogram or bar chart, the element with the highest bar represents the mode. Therefore, the mode is sometimes considered the most popular option. The mode is useful for nominal or categorical data (e.g., the most common color car that users purchase), but it is problematic for continuous data because it is more likely not to have any value that is more frequent than the other.

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