Math Problem Statement

Find the​ (a) mean,​ (b) median,​ (c) mode, and​ (d) midrange for the data and then​ (e) answer the given questions. Listed below are the highest amounts of net worth​ (in millions of​ dollars) of all celebrities. What do the results tell us about the population of all​ celebrities? Based on the nature of the​ amounts, what can be inferred about their​ precision? 230    190    175    170    165    165    150    150    150    150 Question content area bottom Part 1 a. Find the mean. The mean is ​$    169.5 million. ​(Type an integer or a decimal rounded to one decimal place as​ needed.) Part 2 b. Find the median. The median is ​$    165 million. ​(Type an integer or a decimal rounded to one decimal place as​ needed.) Part 3 c. Find the mode. Select the correct choice below​ and, if​ necessary, fill in the answer box to complete your choice. A. The​ mode(s) is(are) ​$    150 million. ​(Type an integer or a decimal. Do not round. Use a comma to separate answers as​ needed.) Your answer is correct.B. There is no mode. Part 4 d. Find the midrange. The midrange is ​$    enter your response here million. ​(Type an integer or a decimal rounded to one decimal place as​ needed.)

Solution

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Math Problem Analysis

Mathematical Concepts

Descriptive Statistics
Measures of Central Tendency
Measures of Dispersion

Formulas

Mean formula
Median calculation
Mode determination
Midrange calculation

Theorems

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Suitable Grade Level

Grades 9-12