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Which measure of central tendency is best to represent the Odometer data: the mean or the median? (Hint: Use 10% rule). Discuss your rationale for
Which measure of central tendency is best to represent the "Odometer" data: the mean or the median? (Hint: Use 10% rule). Discuss your rationale for the choice
Descriptives Statistic Std. Error Price Mean 13357.60 135.497 95% Confidence Interval Lower Bound 13091.38 for Mean Upper Bound 13623.81 5% Trimmed Mean 13418.81 Median 13580.00 Variance 9179741.852 Std. Deviation 3029.809 Minimum 4320 Maximum 19630 Range 15310 Interquartile Range 4148 Skewness -.351 .109 Kurtosis -.436 218 Odometer Mean 47817.61 1472.574 95% Confidence Interval Lower Bound 44924.40 for Mean Upper Bound 50710.82 5% Trimmed Mean 45244.50 Median 39646.00 Variance 1084236752 Std. Deviation 32927.750 Minimum Maximum 183862 Range 183858 Interquartile Range 36948 Skewness 1.257 109 Kurtosis 1.546 218Step by Step Solution
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