What does this​ "Top 10" list tell us about the population of all of that​ country's college​ tuitions?

Question

Listed below are the annual tuition amounts of the 10 most expensive colleges in a country for a recent year. What does this​ "Top 10" list tell us about the population of all of that​ country's college​ tuitions?

$50,896, $52,533, $51,529, $53,051, $53,736

$53,213, $51,473, $51,259, $52,092, $53,014

Find the​ mean, midrange,​ median, and mode of the data set.

The mean of the data set is $__.

​(Round to two decimal places as​ needed.)

Answer 1

Simply put,

Mean: average of all data

Midrange: average of the smallest and the greatest data

Median: the "middle" value when all the data is put in the order of smallest to greatest

Mode: most often repeated data

The data put in order from smallest to greatest:

$50,896, $51,259, $51,473, $51,529, $52,092, $52,533, $53,014, $53,051, $53,213, $53,736

Mean: $52,279.60

Midrange: $52,316 = ($50,896 + $53,736)/2

Median: $52,315.50 = ($52,092 + $52,533)/2 because there are even data entries so find the average of two most "middle data pair)

Mode: No Mode (because no data entry is repeated)

Hope this helped!

Answer 2

To find the mean of a set of values, you add up all the values, and then divide by how many values there were.

In this case, there are 10 values provided, so the mean of those values would be the sum of the 10 values provided divided by 10.