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ahrayia
12 days ago
12

A college statistics class conducted a survey of how students spend their money. They asked 25 students to estimate how much mon

ey they typically spend each week on fast food. They determined that the mean amount spent on fast food each week is $31.52 and the median is $32. Later they realized that a value entered as $2 should have been $20. They recalculate the mean and the median. Which of the following is true? Group of answer choices
a. The mean and median will increase.
b. The mean will increase, but the median will remain the same.
c. The mean will stay the same, but the median will increase.
d. Both the mean and median will remain the same.
Mathematics
1 answer:
Inessa [12.5K]12 days ago
7 0

Answer:

The correct option is B, indicating that while the mean will rise, the median will remain unchanged.

Step-by-step explanation:

Provided

The mean value is 31.52 dollars

The median value is 32 dollar.

The mean is calculated as the average of all values in a dataset. Alteration to any number will affect the mean.

Currently, the mean stands at 31.25

Total sums to 31.25 * 25 = 781.25\\

Changing one number from 2 to 20 means an addition of 18 dollars

therefore, the updated mean will be 781.25 + 18/25 = 31.97

Still, the median represents the central value in the arrangement. Therefore, it remains unaffected.

Thus, option B is accurate

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The markup percentage calculates to 45.14%

Step-by-step explanation:

The given data is:

  • The selling price of a box of crackers is $1.75
  • You increase the price of the crackers to $2.54

Our goal is to find the markup percentage.

Markup percentage = \frac{New-Old}{old} × 100%

Given that the selling price of a box of crackers is $1.75

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Since you marked the crackers to $2.54

Thus, New = 2.54

- Substitute the values into the formula

Markup percentage = \frac{2.54-1.75}{1.75} × 100%

Therefore, markup percentage = \frac{0.79}{1.75} × 100%

Therefore, the markup percentage = 0.4514 × 100%

Thus, the markup percentage = 45.14%

The markup percentage equals 45.14%

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