Question

Five credit scores are $680,680,700,720,720.$The data set is bimodal because the scores $680$and $720$each occur twice. Consider the annual earnings of workers at a factory. The mode is $\backslash (25,000$and occurs $150$times out of $301.$The median is $\backslash )50,000$and the mean is $\$47,500.$What would be the best measure of the “center”?

Short answer

Because $25,000$occurs roughly half of the time, the mode would be the best estimate of the "center."

Furthermore, the median and mean do not reflect what the majority of workers produce in the factory.

Step-by-step solution

Given

The yearly wages of manufacturing employees range from $\$25,000$to $\$47,500$, with $\$25,000$occurring $150$times out of $301$. The median earning is $\$50,000,$while the mean income is $\$47,500.$

Explanation

Themean,median,andmodearecentraltendencymeasurementsinstatistics.

Themeaniscalculatedbydividingthetotalnumberofobservationsbythenumberofobservations.

Themedianisthepointatwhichthedataisdividedintotwoequalhalves.

Inthedata,themodeisthemostcommonlyoccurringobservation.

Outliers have the greatest impact on the mean, hence it's usually utilized when the data is symmetric.

When the data is symmetric, the median and mode are the least impacted by extreme values.

Because $25,000$occurs roughly half of the time in the current circumstance, the mode would be the best estimate of the center.

Furthermore, the median and mean do not reflect what the majority of workers produce in the factory.