Amounts Spent by a Sample of 50 Customers at a Retail

question 126

Multiple Choice

Amounts spent by a sample of 50 customers at a retail store are summarized in the following relative frequency distribution. The mean amount spent by customers is the closest to ______.

• A) $0.36
• B) $18.00
• C) $20.00
• D) $25.00

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Definitions:

StdDev

Short for Standard Deviation, it measures the amount of variance or dispersion in a set of values.

Median

A value that divides a dataset into two equal halves, representing the middle value when the data set is ordered.

StdDev

A measurement that quantifies the amount of variation or dispersion in a set of data values, same as Standard Deviation.

Mean

The mean value of a collection of numbers, obtained by dividing the total sum of the numbers by the quantity of numbers in the collection.