Question

Consider the following types of data that were obtained from a random sample of 49 credit card accounts. Identify all the averages (mean, median, or mode) that can be used to summarize the data.

(Select all that apply.)
(a) Outstanding balance on each account.
A. mode
B. median
C. mean
(b) Name of credit card (e.g., MasterCard, Visa, American Express, etc.).
A. mode
B. median
C. mean
(c) Dollar amount due on next payment.
A. mode
B. median
C. mean

Answer 1

(a) Outstanding balance on each account.

The averages that can be used to summarize the data are:

A. mode

B. median

C. mean

(b) Name of credit card (e.g., MasterCard, Visa, American Express, etc.).

The averages that can be used to summarize the data are:

A. mode

(c) Dollar amount due on next payment.

A. mode

B. median

C. mean

Explanation:

(a) Outstanding balance on each account.

The averages that can be used to summarize the data are:

A. mode

B. median

C. mean

(b) Name of credit card (e.g., MasterCard, Visa, American Express, etc.).

The averages that can be used to summarize the data are:

A. mode

(c) Dollar amount due on next payment.

A. mode

B. median

C. mean