Transcribed Image Text:### Top-Paid CEOs
The data shown represents the total compensation (in millions of dollars) for the 27 top-paid CEOs for a recent year. Compare the averages and state which one you think is the best measure.
**Data Set:**
- 13.0
- 18.2
- 19.1
- 19.3
- 19.8
- 21.2
- 23.2
- 23.7
- 24.0
- 24.1
- 24.3
- 25.2
- 25.3
- 25.6
- 26.4
- 27.1
- 27.4
- 27.7
- 28.0
- 28.1
- 28.2
- 33.4
- 35.3
- 35.8
- 36.0
- 36.7
- 35.2
Additionally, students can send the data to an Excel file for further analysis using the provided "Send data to Excel" button.
**Part 1 of 5**
**Find the Mean:**
In this section, you are required to calculate the mean (average) of the given data set. Remember to round off the mean to one more decimal place than the data as needed.
- **Rounding rule for the mean:** Round to one more decimal place than the data as needed.
- **Calculated Mean:** 24.9
**Part 2 of 5**
**Find the Median:**
Next, students need to calculate the median of the provided data set, which represents the middle value when the data points are arranged in ascending order.
The interface includes a progress bar indicating the completion level of each part of this exercise, helping students track their progress efficiently.
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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