Find the Mean for the Given Sample Data $$\begin{array} { l l l } 52 & 63 & 67 \\50 & 59 & 58 \\65 & 51 & 56\end{array}$$

question 170

Multiple Choice

Find the mean for the given sample data. Unless indicated otherwise, round your answer to one more decimal place than is present in the original data values.
-Last year, nine employees of an electronics company retired. Their ages at retirement are listed below. Find the mean retirement age. $$\begin{array} { l l l } 52 & 63 & 67 \\50 & 59 & 58 \\65 & 51 & 56\end{array}$$

• A) 57.9 yr
• B) 56.6 yr
• C) 58.0 yr
• D) 57.3 yr

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Definitions:

Future Value

Financial value of an asset or cash set for a future date, equivalent to a fixed present sum.

Annuity

A financial instrument that provides a consistent series of payments to a person, often utilized in planning for retirement.

Continuous Compounding

The process of calculating interest on an investment or loan continuously, leading to the accumulation of interest upon interest, often resulting in higher yields.