Question

Jessica wants to make a discretionary purchase of a tablet device. She checks the prices of a particular make and model listed by seven different vendors on a shopping comparison website. She found the following prices: $875, $1,800, $700, $800, $750, $775, $850. She computes the mean as $935.72 . a. Dose $935.72 seem like a good representation of the data? Why?

Answer 1

$935.72 may not be a good representation of the data because it's significantly higher than most of the individual prices. The presence of an outlier (in this case, the high price of $1,800) can heavily influence the mean, making it appear higher than the majority of prices. In cases like this, the mean might not accurately reflect the central tendency of the data due to the outlier's impact.

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