Math Problem Statement
Note: Please make sure to properly format your answers. All dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). All percentage values in the answers need to include a percentage sign (%). For all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06).
Before the last school year began, it was estimated that the average discretionary personal expenses each school year for a student attending a 4-year public college were $2,110. This past summer Ashley decided to poll seven of her friends attending a 4-year public college because she thought that estimate was low. She made a list of their actual school-year expenses: $2,800, $1,990, $2,005, $2,400, $1,860, $2,200, $2,000 a. What is the mean of her friends' personal expenses? Round your answer to the nearest cent. b. Is the average higher or lower than the estimate? c. What would Ashley's actual personal expenses for that school year have to be so that her amount and her friends' amounts together would have an average of $2,110?
Solution
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Math Problem Analysis
Mathematical Concepts
Statistics
Mean Calculation
Formulas
Mean formula: Mean = (sum of values) / (number of values)
Theorems
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Suitable Grade Level
Grades 9-12
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