Print-O-Matic printing company spends specific amounts on fixed costs every month. The costs of those fixed costs are in table #3.2.13. Table #3.2.13: Fixed Costs for Print-O-Matic Printing CompanyMonthly chargesMonthly cost ($)Bank charges482Cleaning2208Computer expensive2471Lease payments2656Postage2117Uniforms2600 Find the mean and median.Find the range.Find the variance and standard deviation.

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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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Print-O-Matic printing company spends specific amounts on fixed costs every month. The costs of those fixed costs are in table #3.2.13.

Table #3.2.13: Fixed Costs for Print-O-Matic Printing Company

Monthly charges	Monthly cost ($)
Bank charges	482
Cleaning	2208
Computer expensive	2471
Lease payments	2656
Postage	2117
Uniforms	2600

Find the mean and median.
Find the range.
Find the variance and standard deviation.

Definition Definition Middle value of a data set. The median divides a data set into two halves, and it also called the 50th percentile. The median is much less affected by outliers and skewed data than the mean. If the number of elements in a dataset is odd, then the middlemost element of the data arranged in ascending or descending order is the median. If the number of elements in the dataset is even, the average of the two central elements of the arranged data is the median of the set. For example, if a dataset has five items—12, 13, 21, 27, 31—the median is the third item in ascending order, or 21. If a dataset has six items—12, 13, 21, 27, 31, 33—the median is the average of the third (21) and fourth (27) items. It is calculated as follows: (21 + 27) / 2 = 24.

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