# Measures of central tendencies

How do I prepare 4 -7 power point slides using the descriptive statstics that I currently have?

(See attached file for full problem description)

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Descriptive Statistics

There are several measures of central tendencies that can be applied to the data that was collected for the Small Business Owners Day Care Meal Budget. Most of the measures applied are those of the means, mode, and median. By studying these measures we can see how the average food cost can be calculated. The Arithmetic mean was applied and determined to have a value of 0 if 3 decimal places were left in the calculations. All values from the meal prices were considered to determine the mean of $1.056. By adding the differences between each value, those used to determine the mean, and the mean the sum is 0.

Taking a sample of the data such as the cost for 1Breakfast, 3 Lunches, 2 Snacks, and 1 Dinner we can calculate the weighted mean. The total was $8.58 and divided by the total number of items in the sample, which is 7, and the weighted mean is $1.23. This calculation is considered for a mother that may have multiple children enrolled in the Day Care program, and that may eat or skip meals while there, so that the mother can see the average money that she is either wasting, or so she can see how to change her budgeting.

By lining up all of the prices in order by the number of times they occur we can determine the median. In this case the median price of meals is $1.65. This is the value that falls directly in the middle of the range if the lowest value is $.50 and the highest value is $1.72. Half of the prices for meals in this day care fall below $1.65, so a half of the meals purchased in the day care would be at or below this value. A mother can set limits on her spending and can also have an idea about the average she will spend by looking at the time her children will be present in the program, and by looking at the median price for the meals.

The last figure that is calculated is the mode. By looking at this data the owner of the day care can see where a majority of the meals fall. By looking at this data the owner can determine which meal will occur the most often, and if needed adjust pricing so that it can be a positive cash flow, as the value of the meals that are most purchased result here. By increasing the prices here the program can increase the revenue. The other reason to look at this measure of central tendency is so that the owner can be sure to have the right amount of food present at the busiest times so that all of the children will have enough food available to satisfy their appetite.

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(See attached file for full problem description)

#### Solution Preview

How do I prepare 4 -7 power point slides using the descriptive statstics that I currently have?

(See attached file for full problem description)

---

Descriptive Statistics

There are several measures of central tendencies that can be applied to the data that was collected for the Small Business Owners Day Care Meal Budget. Most of the measures applied are those of the means, mode, and median. By studying these measures we can see how the average food cost can be calculated. The Arithmetic mean was applied and determined to have a value of 0 if 3 decimal places were left in the calculations. All values from the meal prices were considered to determine the mean of ...

#### Solution Summary

This explains the various measures of central tendencies