Suppose the following data show the introductory interest rates on a sample of 5 credit cards: 5.2, 1.1, 2.6, 4.2, 3.4. Calculate the mean interest rate of the sample. (please express your answer using 2 decimal place

Suppose the following data show the introductory interest rates on a sample of 5 credit cards: 5.2, 1.1, 2.6, 4.2, 3.4. Calculate the mean interest rate of the sample. (please express your answer using 2 decimal place

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

Suppose the following data show the introductory interest rates on a sample of 5 credit cards: 5.2, 1.1, 2.6, 4.2, 3.4. Calculate the mean interest rate of the sample. (please express your answer using 2 decimal places)

Expert Solution

Step 1

To calculate the mean interest rate of the below sample of interest rates.

5.2, 1.1, 2.6, 4.2, 3.4

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