Question

(02.02 lc)
the first - year costs of certain colleges are as follows:
$5,650.00
$7,950.00
$6,130.00
$5,720.00
$6,190.00
$6,530.00
$5,960.00
$5,720.00
find the mean of the data set.
$6,045.67
$6,231.25
$7,121.43
$7,363.78

Explanation:

Step1: Sum up all the values

$$\begin{align*} &5650 + 7950+6130 + 5720+6190+6530+5960+5720\\ =&(5650+7950)+(6130 + 5720)+(6190+6530)+(5960+5720)\\ =&13600+11850+12720+11680\\ =&(13600+11850)+(12720+11680)\\ =&25450+24400\\ =&49850 \end{align*}$$

Step2: Divide the sum by the number of data points

There are \(n = 8\) data points. The mean \(\bar{x}=\frac{49850}{8}=6231.25\)

Answer:

\(6231.25\) (corresponds to the option \(\$6,231.25\))