Question

The profits earned in a year by some companies in a city are shown $160,000 $140,000 $130,000 $1120,000 $150,000 based on the data should the mean, or the median Be used to make the inference about the profits earned by the companies

Answer 1

Median

Explanation:

In this data set, there's a huge outlier ($1,120,000) which would skew the results upwards. Using the mean to make an inference about the profits would better represent the whole data set since you'd get $150,000 which is more in line with the rest of the data point.