Purchase Solution

Mean, Median and Mode for Gasoline Prices

Not what you're looking for?

Ask Custom Question

The American Automobile Association checks the prices of gasoline before many holiday weekends. Listed below are the self-service prices for a sample of 15 retail outlets during the May 2003 Memorial Day weekend in the Detroit, Michigan area.

1.44 1.42 1.35 1.39 1.49 1.49 1.41 1.46
1.41 1.49 1.45 1.48 1.39 1.46 1.44

1. What is the arithmetic mean selling price?
2. What is the median selling price?
3. What is the modal selling price?

Purchase this Solution
Solution Summary

This solution contains a brief, but concise step by step procedure for the calculation of the statistical measures in question, which are the mean, median and mode. All calculations are included, along with the equations which accompany them.

Solution Preview

...

Purchase this Solution
Free BrainMass Quizzes
Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.

Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

View More Free Quizzes
Related BrainMass Solutions

  • Finding Mean, Median and Modal Prices

    Solution describes the steps for finding mean, median and modal selling prices.

  • AAA Gas Price Statistics: Arithmetic Mean, median, and modal

    For Mode the screen looks like the one as shown below Thus the values of Arithmatic Mean, Median and Mode are obtained as shown in the following.

  • Mean, Median, Mode

    Please see the attachment for solution. The solution contains the determination of mean, median, mode and standard deviation of data from various problems.

  • Description of Hypothesis Testing

    Step 3: Compute the test statistic Column1 Mean 3.911818 Standard Error 0.033161 Median 3.92 Mode 4.04 Standard Deviation 0.109983 Sample Variance 0.012096 Kurtosis -1.01998 Skewness -0.45896 Range 0.32 Minimum 3.72 Maximum 4.04 Sum

  • Measures of central tendency and dispersion

    The solution contains calculation of Mean, Median, Mode, Mean Deviation and Standard Deviation, including formula for the computation.

  • The Solution to Basic Statistics

    The solution gives step by step procedure for the calculation of Mean, Median, Mode, Standard deviation, summary statistics, quartile deviation, range, IQR, skewness and frequency distribution.

  • Central Tendency - House Sales

    What is the mean, median, and mode of this data? b.) Which measure gives you a better sense of the midpoint of the housing prices in this area, the mean or the median? Why?

  • Arithmetic mean selling price

    What is the arithmetic mean selling price? b. What is the median selling price? c. What is the modal selling price? The American Automobile Association checks the prices of gasoline before many holiday weekends.

  • Statistics and Probability

    This is a problem set with 6 questions involving descriptive statistics (mean, median, mode, geometric mean, range, and standard deviation) and probability.

View More Related Solutions