Suppose that in a small town of 50 people, one person earns $5,000,000 per year and the other 49 each earn $30,000. Compute the mean and the media....
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Question

Suppose that in a small town of 50 people, one person earns $5,000,000 per year and the other 49

each earn

$30,000. Compute the mean and the media. Which is the better measure of the

"center": the mean or the median? Explain.

Top Answer

The mean is (( 5,000,000+ (49*30,000))/50 = 6470,000/50= $129,400 The median is the 15th... View the full answer

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