Consider the following numbers that range from 10 to 40 (10, 14, 23, 23, 30, 36, 40) and their probabilities (.20, .10, .05, .20). Name the median, mean, mode, and the expected value respectively.
A) 23, 23, 23, and 25
B) 23, 24, 23, and 25.3
C) 23, 24.3, 24, and 26
D) 23, 25.3, 23, and 30.

Question

Quizplus · Accepted Answer

The median is the middle value when the numbers are arranged in order, which is 23. The mode is the number that appears most frequently, which is also 23. The mean (average) is the sum of all numbers divided by the count, which is $ \frac{10 + 14 + 23 + 23 + 30 + 36 + 40}{7} = 25 $. The expected value is calculated by multiplying each number by its probability and adding the results. Since the probabilities given do not match the number of elements in the list, and no specific probabilities are assigned to each number, a direct calculation of the expected value as stated cannot be accurately performed. However, based on the options provided and the correct calculation of the median, mode, and mean, option A is chosen despite the ambiguity in calculating the expected value.

Consider the Following Numbers That Range from 10 to 40