Answered: Suppose that the following fiqures show…

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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Question

Suppose that the following fiqures show the price of silver per ounce, in dollars, for a 10-business-day period

12.5,12.2,12.3,12.2,12,11.7,11.7,12.1,11.8

Find the sample mean, median, and mode

mean=

median=

mode=

What do your answers tell you about the price of silver?

Over the 10-business-day period samples, the price of averaged $ _____ per ounce. It was above $______ as many as it was below that price, and stood at $_____ per ounce more often than at any other price.

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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