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4. A retail store tracks the amount of money spent on a transaction on a certain day. A sample of sixteen transactions is taken. The
4. A retail store tracks the amount of money spent on a transaction on a certain day. A sample of sixteen transactions is taken. The value (in dollars) of each transaction is given. 29.13 31.24 33.76 38.25 39.42 42.85 45.67 47.81 48.33 50.25 54.72 64.81 72.14 86.45 314.40 513.80 a. Find the measures of central tendency and variation. Round to the nearest hundredth. Mean Median Sample standard deviation Sample size b. Write a sentence to interpret the mean. c. Write a sentence to interpret the median. d. Which value is larger? The mean or the median? Use this to determine the skewness of the distribution. Interpret the meaning of this distribution shape in the context of the problem. e. Which measure of central tendency, the mean or median, is most representative of the data? Defend your
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