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Mean, Median & Mode: Mutual Fund Returns

Mean, median, and mode: Computations

The following list contains the average annual total returns (in percentage points) for 8 mutual funds. The mutual funds appear in an online brokerage firm's "all-star" list.

23, 16, 9, -5, 40, 36, 16, 21

A - What is the mean of this data set? If the answer is not an integer, round the answer to at least 1 decimal place.

B - What is the median of this data set? It the answer in not an integer, round the answer to at least 1 decimal place.

C - How many modes does this data set have and what are their values? Indicate the number of modes (zero mode, one mode, two modes), and indicate the value (s) of the mode (s) if applicable.

Solution Summary

The solution provides step by step method for the calculation of mean, median and mode. Formula for the calculation and Interpretations of the results are also included.

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