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Part 1

Find the​ (a) mean,​ (b) median,​ (c) mode, and​ (d) midrange for the data and then​ (e) answer the given questions.

Listed below are selling prices​ (dollars) of TVs that are 60 inches or larger and rated as a​ "best buy" by a popular magazine. Are the resulting statistics representative of the population of all TVs that are 60 inches and​ larger? If you decide to buy one of these​ TVs, what statistic is most​ relevant, other than the measures of central​ tendency?

17001700   

18001800   

18501850   

18001800   

19501950   

12501250   

18001800   

16001600   

12501250   

13001300   

18001800   

15501550**** 
  
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Part 1

**a.** Find the mean. 

The mean is 

​$enter your response here.

​(Type an integer or a decimal rounded to one decimal place as​ needed.)

Let's find the mean of the given dataset.

The data points represent the prices of TVs, and the values are as follows:
\[
1700, 1800, 1850, 1800, 1950, 1250, 1800, 1600, 1250, 1300, 1800, 1550
\]

### Formula for Mean:
The mean (average) is calculated by summing up all the data points and dividing by the number of data points.

\[
\text{Mean} = \frac{\text{Sum of all data points}}{\text{Number of data points}}
\]

Let's calculate it step by step.

1. **Sum of data points**:
\[
1700 + 1800 + 1850 + 1800 + 1950 + 1250 + 1800 + 1600 + 1250 + 1300 + 1800 + 1550
\]

2. **Number of data points**: There are 12 data points.

Now, let's calculate the mean.The mean of the given TV prices is **1637.5 dollars**.

Would you like to proceed with calculating the median, mode, and midrange or have any questions about this step?

Here are 5 questions related to the topic:
1. What is the significance of the mean in a dataset?
2. How does the mean help in understanding the central tendency of prices?
3. In what situations might the mean not be the best representation of a dataset?
4. Can outliers significantly affect the mean, and how?
5. How would rounding the data points affect the mean?

**Tip:** When dealing with skewed data or outliers, the mean might not represent the central tendency effectively—consider using the median.

Find the (a) mean, (b) median, (c) mode, and (d) midrange for the data and then (e) answer the given questions. Listed below are selling prices (dollars) of TVs that are 60 inches or larger and rated as a 'best buy' by a popular magazine. Are the resulting statistics representative of the population of all TVs that are 60 inches and larger? If you decide to buy one of these TVs, what statistic is most relevant, other than the measures of central tendency? Data: 1700, 1800, 1850, 1800, 1950, 1250, 1800, 1600, 1250, 1300, 1800, 1550.

Calculate the mean, median, mode, and midrange for a dataset of TV prices (ranging from $1250 to $1950). Explore how to use measures of central tendency to analyze data effectively. Learn which statistics might best represent the population of TVs that are 60 inches and larger. Suitable for Grades 8-10.

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