Question

question 10 of 10: your research of competitors shows prices of $45, $78, $13, $125, and $66. if you throw out the highest and lowest data points (outliers), what is the mean of the remaining prices?
a) 45
b) 63
c) 70
d) 78

Explanation:

Step1: Identify highest and lowest values

The values are $45, 78, 13, 125, 66$. The lowest value is $13$ and the highest value is $125$.

Step2: Select remaining values

The remaining values are $45, 78, 66$.

Step3: Calculate the mean

The mean formula is $\bar{x}=\frac{\sum_{i = 1}^{n}x_{i}}{n}$. Here, $n = 3$, $x_1=45$, $x_2 = 78$, $x_3=66$. So $\bar{x}=\frac{45 + 78+66}{3}=\frac{189}{3}=63$.

Answer:

B. 63